EX 7-9 Weighted average cost flow method under perpetual inventory system OBJ. 3 The following units of a particular item were available for sale during the calendar year: Total Cost of Merchandise Sold, $154,400 Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 Inventory Sale Purchase Sale Purchase 4,000 units at $20 2,500 units 6,000 units at $24 4,500 units 1,000 units at $25 stem. Total Cost of Merchandise Sold, $152,000 OBJ. 3 Total Cost of Merchandise Sold, $ 158,000 EX 7-11 Perpetual inventory using LIFO 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 last-in, first-out method. Present the data in the form illustrated in Exhibit 4