Perpetual Inventory Using UFO Beginning inventory, purchases, and sales data for DVD players are as follows: Inventory 120 units at $39 November 1 10 Sale 90 units 15 Purchase 140 units at $40 20 Sale 110 units 24 Sale 45 units 30 Purchase 160 units at $43 The business maintains a perpetual inventory system, costing by the last in, first out method. Determine the cost of goods sold for each sale and the inventory balance after each sole, 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 Cost of Goods Sold Unit Cost column and LOWE unit cost first in the inventory Unit Cost column. Schedule of Cost of Goods Sold LIFO Method DVD Players Quantity Purchases Purchases Quantity Cost of Goods Sold Cost of Goods Sold Inventory Inventory Date Inventor Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Unit Cost Total Cost Nov. 1 Nov 10 Nov 15 - 0001 o