eBook Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for sale during the calendar year: Jan. 1 4,000 units at $20 Inventory Sale Apr. 19 2,500 units June 30 Purchase 6,000 units at $24 Sept. 2 Sale 4,500 units Nov. 15 Purchase 1,000 units at $25 The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of merchandise sold 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 Cost of Merchandise Sold Purchases Inventory Unit Cost Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Total Cost Jan. 1 Apr. 19 s June 30 $ Sept. 2 Nov. 15 Dec. 31 Balances