EX 7-10 Perpetual inventory using FIFO OBJ. 3 VTotal Cost of Merchandise Sold $152,000 Assume that the business in Exercise 7.9 maintains a perpetual inventory system. Deter- mine the cost of merchandise sold for each sale and the inventory balance after each sale, assuming the first-in, first-out method. Present the data in the form illustrated in Exhibit 3 EX 7-10 Perpetual inventory using FIFO OBJ. 3 VTotal Cost of Merchandise Sold $152,000 Assume that the business in Exercise 7.9 maintains a perpetual inventory system. Deter- mine the cost of merchandise sold for each sale and the inventory balance after each sale, assuming the first-in, first-out method. Present the data in the form illustrated in Exhibit 3