EX 7-9 Weighted average cost flow method under perpetual inventory system OBJ3 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 The firm uses the weighted average cost method with a perpetual inventory system Determine the cost of merchandise sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. OBJ.) Total Cost of Merchandise Sold, $152,000 EX 7-10 Perpetual inventory using FIFO 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