balance, , $8,448 CEL TEMPLATE EX 6-6 Perpetual inventory using FIFO Assume that the business in Exercise 6-5 maintains a perpetual inventory system, costing by the first-in, first-out method. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the date the cost of illustrated in Exhibit 3. Linuentory system Obj. 2,3