Mueller Inc uses the perpetual FIFO inventory method and has the following information regarding its inventory: Inventory Events Beginning balance 100 units at $8 Date June 1 June 15 June 22 Record the effect on the following accounts: Assets Purchased 790 units at $10.00 Purchased 390 units at $11.00 If the company sold 390 units of inventory for $10 each what would be the effect of the sale? Liabilities Stockholders' Equity Revenues and Expenses (Income Statement) Net Income Amount $800 7,900 4,290 O O O O