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Perpetual Inventory Using LIFO 24 Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 78 units at $98 10 Sale 56 units 15 Purchase 98 units at $102 20 Sale 57 units Sale 17 units Purchase 20 units at $106 The business maintains a perpetual inventory system, costing by the last in, first cut method. Determine the cast of goods sold sold for each sale and the inventory balance after each sale, presenting the data in the form Ilustrated in Exhibit 4. Under Liro, ir 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 Tnventory Unit Cost column. Schedule of Cost of Goods Sold LIFO Method DVD Players 30 Schedule of Cost of Goods Sold LIFO Method DVD Players Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Inventory Inventory Unit Cost Total Cost Date Nov. 1 78 98 7,644 Nov. 10 56 98 5,488 56 X 98 56 X Nov. 15 98 102 9.996 95 102 Nov. 20 57 102 5.14 98 102 Nov. 24 17 102 1.734 98 102 Nov. 30 20 106 2,120 98 102 106 Nov. 30 Balances 13,036

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