Perpetual Inventory Using HtTO The foliewing units of a particular llem were avaisaie for sale during the calendar vear: The firm maintains a perpetual inventory system, Determine the cost ot merchandise sold for each sale and the inventory batance after each sale, assuming the fint-in: fist-out method, Preseot the dats in the form illustrated in Exhibit 3, Under FFO, if units are in invertery at two different costs, enser the units with the LOWER anit cont first in the Cost of Merchandise Sold Unit Cost column and in the Imomtory Unit Cost colurmn. spetuel inventory system. Determine the cost of merchandise sold for each-sale and the inventory balance aher each sale, assuming themiatu, of the dita in the Corm illustrated in Exhibit 3. Under FIFD. if units are in invertory at two different conts, enter the anits with the LOWER unit cost