Inventory balance, December 31, $8,448 EX 6-6 Perpetual inventory using FIFO Obj. 2, 3 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 data in the form illustrated in Exhibit 3. W ME NOW EXCEL TEMPLATE Chapter 8 Inventories 335 of goods ,758,750 >EX 6-8 Weighted average cost flow method under perpetual inventory system The following units of a particular item were available for sale during the calendar year: Ob), 3 ME HOW Jan. 1 Mar. 18 May 2 9 Oct. 20 Inventory Sale Purchase Sale Purchase Aug 10,000 units at $75.00 8,000 units 18,000 units at $77.50 15,000 units 7,000 units at $80.25 The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Inventory balance, December 31, $8,448 EX 6-6 Perpetual inventory using FIFO Obj. 2, 3 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 data in the form illustrated in Exhibit 3. W ME NOW EXCEL TEMPLATE Chapter 8 Inventories 335 of goods ,758,750 >EX 6-8 Weighted average cost flow method under perpetual inventory system The following units of a particular item were available for sale during the calendar year: Ob), 3 ME HOW Jan. 1 Mar. 18 May 2 9 Oct. 20 Inventory Sale Purchase Sale Purchase Aug 10,000 units at $75.00 8,000 units 18,000 units at $77.50 15,000 units 7,000 units at $80.25 The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5