) Perpetual Inventory Using FIFO nke Beginning inventory, purchases, and sales data for golf club sets are as follows: Tevfc 1-Sep Beginning Inventory 40 units @ $60 10-Sep Sale 25 units 15-Sep Purchase 30 units $70 20-Sep Sale 35 units The business maintains a perpetual inventory system costing by the listen tout method. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Sold Cost of Merchandise Sold Unit Cost Cost of Merchandise Sold Total Cost Inventory Quantity Inventory Unit Cost Total inventory 40 5 60.00 $ 2,400.00 1-Sep 10-Sep 15-Sep 20-Sep