CH 7 Homework eBook Weighted Average Cost Flow Method Under Perpetual Inventory System The folowing units of a particular item were available for sale during the calendar year: 30,000 units at $30.00 24,000 units Jan. 1 Inventory Mar 18 Sale May 2 Aug. 9 Oct. 20 Purchase 54,000 units at $31.00 Sale 45,000 units Purchase 21,000 units at $32.10 The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of merchandise told for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary. Schedule of Cost of Merchandise Sold Weighted Average Cost Flow Method Purchases Date Quantity Unit Cost Total Cost Quantity Jan 1 18 May 54,000 Cost of Merchandise Sold Unit Cost Inventory Total Cost Quantity Unit Cost Total Cost 30,000 V 30 900,000 24,000 30 6,000 30 720,000 180,000 6,000 30 x 180,000