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Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows November 1 Inventory 50 units at $76 10 Sale 39 units 15 Purchase 67 units at $79 20 Sale 39 units 24 Sale 11 units 30 Purchase 37 units at $84 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 thibit 4. Under so, if units are in inventory at two different costs, enter the units with the HIGHER unit cost fest in the cost of Goods Sold Unle Cost column and Lower unit cost first in the Inventory Unit Cost column Schedule of Cost of Goods Sold UFO Method DVD Players Quantity Purchases Purchases Quantity Cost of Goods Cost of Goods Sold Inventory Inventory Inventory Purchased Unit Cost Total Cost Sold Sold Unit Cost Total Cost Quantity Unit Cost Total Cost Date NOW 1 Nov 10 Nov 15 o 1000d 0 ODIO 1000 No (Previous Newt 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 Inventory Unit Cost Inventory Total Cost Nov. 1 . 10 , 15 o a . o . Nov 20 11 00000000001 I101 Nov 24 0 Nov 30 0 o dol Nov 30 Balances 0

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