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erpetual Inventory Using FIFO eginning inventory, purchases, and sales data for portable DVD players are...

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erpetual Inventory Using FIFO eginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 Inventory 10 Sale 15 Purchase 20 Sale 24 Sale 30 Purchase 79 units @ $62 62 units 43 units @ $64 22 units 25 units 36 units $68 The business maintains a perpetual inventory system, costing by the first-in, first-out method. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the illustrated in Exhibit 3. a. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Mer Sold Unit Cost column and in the Inventory Unit Cost column. Cost of the Merchandise Sold Schedule First in, First-out Method Portable DVD Players Cost of Quantity Purchases Purchases Quantityost o mdtonInventory Inventory Inv

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