perpetual inventory using fifo\nbeginning inventory, purchases, and sales data for dvd players are as…
perpetual inventory using fifo\nbeginning inventory, purchases, and sales data for dvd players are as follows:\nnov. 1 inventory 140 units at $29\n10 sale 110 units\n15 purchase 150 units at $30\n20 sale 120 units\n24 sale 35 units\n30 purchase 140 units at $34\nthe business maintains a perpetual inventory system, costing by the first - in, first - out method.\na. determine the cost of 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.\nfirst - in, first - out method\ndvd players\ndate quantity purchased purchases unit cost purchases total cost quantity sold cost of goods sold unit cost cost of goods sold total cost inventory quantity inventory unit cost inventory total cost\nnov. 1 140 29 4,060\nnov. 10 110 29 3,190 30 29 870\nnov. 15 150 30 4,500 29