Accounting Volume 1.... x About Support Chapter 6 Inventories 333 EX 6-5 2 Beginning inventory, purchases, and sales data for cellphones are as follows: Perpetual inventory Inventory Purchases Sales using FIFO and 3 weighted average Mar. 1 1,000 units at $40 Mar. 5 20 500 units at $42 450 units at $44 Mar. 8 700 units 14 600 units 31 300 units a. Inventory balance, March 31, $15,400 a. Assuming that the perpetual inventory system is used, costing by the FIFO 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, on page 310. b. Assuming that the perpetual inventory system is used, costing by the weighted average 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 4, on page 311. A P Accounting Volume 1,... x About Support EX 6-6 2 Beginning inventory, purchases, and sales data for watches are as follows: Perpetual inventory using FIFO and 3 weighted average Inventory May 1 Purchases Sales 850 units at $112 May 8 19 320 units at $120 98 units at $132 May 10 15 600 units 405 units 30 172 units a. Inventory balance, May 31, $12,012 a. Assuming that a perpetual inventory system is used, costing by the FIFO 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, on page 310. b. Assuming that the perpetual inventory system is used, costing by the weighted average 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 4, on page 311. 1 AA P