Beginning inventory, purchases, and sales data for DVD players are as follows: DateLine Item DescriptionUnits and Cost Nov. 1Inventory140 units at $29 10Sale110 units 15Purchase150 units at $30 20Sale120 units 24Sale35 units 30Purchase140 units at $34 The business maintains a perpetual inventory system, costing by the first-in, first-out method. Question Content Area a. 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.