Perptual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable game players are as follows: 73 units $88 Apr. 1 Inventory 10 Sale 47 units 15 Purchase 31 units $93 20 Sale 33 units 24 Sale 18 units 30 Purchase 22 units $99 The business maintains a perpetual inventory system, costing by the first-in, first-out method. a. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit : units with the LOWER unit cost first in the Cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column. Perpetual Inventory Account First-in, First-out Method Portable Game Players Quantity Cost of Cost of Purchases Purchases Date Apr. 1 Quantity Purchased Unit Cost Total Cost of Merchandise Sold Merchandise Merchandise. Sold Sold Unit Cost Inventory Inventory Total Cost Cost Inventory Quantity: 73 Unit Cost Total Cost 88 6,424 v Apr. 10 47 88 V 4,136 26 88 V 2,288 Apr. 15 31 V 93 V 2,883 26 V 88 V 2,288 31 V 93 2,883 Apr. 201 26 33 X 88 93 2,288 V 33 X 93 Apr. 24 18 V 93 V 1,674 33 X 93 V Apr. 30 22 V 99 2,178 93 22 99 2,178 Apr. 30 Balances