Reference no: EM13574370

Beginning inventory, purchases, and sales data for portable DVD players are as follows:

The business maintains a perpetual inventory system, costing by the first-in, first-out method.

a. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale.

b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method?