Perpetual Inventory Using LIFO Beginning Inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 75 units $62 10 Sale 60 units 15 Purchase 93 units O $65 20 Sale 51 units 24 Sale 16 units 30 Purchase 27 units $68 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the cast of Merchandise Sold Unit Cost olumn and LOWER unit cost first in the Inventory Unit Cost column. Perpetual Inventory Account LIFO Method Portable Game Players Cost of Cost of Merchandise Merchandise Sold Sold Unit Cost Total Cost Purchases Purchases Quantity Unit Cost Total Cost Sold Inventory Inventory Inventory Quantity Unit Cost Total Cost Quantity Date Purchased Apr. 1 LIFO Method Portable Game Players Cost of Cost of Merchandise Merchandise Sold Sold Unit Cost Total Cost Purchases Purchases Quantity Unit Cost Total Cost Quantity Date Purchased Sold Inventory Inventory Inventory Quantity Unit Cost Total Cost Apr. 1 Apr. 10 Apr. 15 Apr. 20 10 Il Apr. 24 Apr 30 - o Apr 30 Balance