Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 52 units at $79 10 Sale 35 units 15 Purchase 27 units at $83 20 Sale 25 units 24 Sale 13 units 30 Purchase 39 units at $86 The business maintains a perpetual inventory system, costing by the first-in, first-out method. Determine the cost of the goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated.
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 and LOWER unit cost first in the Inventory.

November 1 Inventory 52 units at $79

November 10 Sale 35 units

COGS = 35 x $79 = $2,765Inventory balance = 17 x $79 = $1,343

November 15 Purchase 27 units at $83

November 20 Sale 25 units

COGS = (17 x $79) + (3 x $83) = $1,592Inventory balance = (24 x $83) = $1,992

November 24 Sale 13 units

COGS = 13 x $83 = $1,079Inventory balance = 11 x $83 = $913

November 30 Purchase 39 units at $86

Inventory balance = $913 + (39 x $86) = $4,267

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.