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K Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Date Nov. 1 Nov. 10 Nov. 15 10 15 Check My Work 20 24 30 Inventory Sale Purchase Sale Sale Purchase 61 units at $69 45 units 29 units at $72 21 units 34 units at $76 The business maintains a perpetual inventory system, costing by the first-in, first-out method. 10 units a. Determine the cost of the goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column. Cost of the Goods Sold Schedule First-in, First-out Method DVD Players Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Inventory Inventory Sold Quantity Unit Cost Total Cost Purchased Unit Cost Total Cost Unit Cost Total Cost Email Instructor Save and Exit Previous Next Submit Assignment for Grading