Beginning inventory, purchases, and sales data for portable MP3 players are as follows:
|
Nov. 1
|
Inventory
|
70 units at $40
|
|
5
|
Sale
|
52 units
|
|
16
|
Purchase
|
30 units at $42
|
|
21
|
Sale
|
24 units
|
|
24
|
Sale
|
8 units
|
|
30
|
Purchase
|
14 units at $45
|
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 form.