Can read codes with a 12V resistor LED and paper clip, on buy one pre-made by Rinda. Attach it to the DLC connector and count the flashes. Only scanner which does supply some info will cost the 600
Being a MEFI-1 ECM the LED is not going to tell you much with current issue. Need to be able to read the MAP and TPS. For the motor to run rich there is either the fuel pressure is high, the MAP (item 16) is not supplying correct info or leaking injectors.
Check fuel pressure at the rail (item 6)
https://www.mercruiserparts.com/bam/subassembly/31608/2716/120
Assuming you didn't buy new injectors (160 each) and hope you didn't buy them from ebay. The ones on ebay are junk. Folks buy them because there so cheap saying they where rebuilt, when in fact, injectors cannot be rebuilt. Injectors can be cleaned and flow tested and if they fail, they need to be replaced.
I would suspect a MAP issue currently.