Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 62 units at $80 Sale 45 units 10 15 Purchase 81 units at $84 20 Sale 45 units 24 Sale 13 units 30 Purchase 26 units at 589 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, it units are in Inventory at two different costs, enter the units with the HIGHER unit cost first in the cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column Schedule of Cost of Goods Sold LIFO Method DVD Players Quantity Cost of Goods Cost of Goods Sold Sold Sold Unit Cost Total Cost Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost Nov. 1 Nov 10 . 15 Nov. 20 11111 000000000 [00100001010 Nov 24 Nov. 30 o o o Nov 30 Balances