Elmo's Music Store carries a large inventory of guitars and other musical instruments. Company records indicate the following for a particular line of guitars. Date Item Quantity Unit Cost May $900 1 Balance 6 Sale 8 Purchase 17 Sale 30 Purchase 5 3 10 4 5 840 840 Required Assume that the store uses the moving-weighted-average-cost method. Prepare Elmo's Music Store's perpetual inventory record for the guitars on the moving-weighted-average-cost basis. Round average cost per unit nearest cent and all other amounts to the nearest dollar. First, make an inventory schedule and enter each purchase and sale. Start by entering the opening balance of inventory. Be sure to calculate the balance after each transaction. (Use parentheses or a minus sign in front of the quantity and the total cost when those numbers are subtracted from inventory. Round average cost per unit to two decimals (X.XX) and total cost to the nearest dollar.) Date Quantity Unit Cost Total Cost May 6 Bal. Bal. Ball End. Inv. Now, determine the cost of goods sold. Enter the transactions in chronological order. Now, determine the cost of goods sold. Enter the transactions in chronological order. Date Quantity Unit Cost Total Cost May Total Elmo's Music Store carries a large inventory of guitars and other musical instruments. Company records indicate the following for a particular line of guitars. Date Item Quantity Unit Cost May $900 1 Balance 6 Sale 8 Purchase 17 Sale 30 Purchase 5 3 10 4 5 840 840 Required Assume that the store uses the moving-weighted-average-cost method. Prepare Elmo's Music Store's perpetual inventory record for the guitars on the moving-weighted-average-cost basis. Round average cost per unit nearest cent and all other amounts to the nearest dollar. First, make an inventory schedule and enter each purchase and sale. Start by entering the opening balance of inventory. Be sure to calculate the balance after each transaction. (Use parentheses or a minus sign in front of the quantity and the total cost when those numbers are subtracted from inventory. Round average cost per unit to two decimals (X.XX) and total cost to the nearest dollar.) Date Quantity Unit Cost Total Cost May 6 Bal. Bal. Ball End. Inv. Now, determine the cost of goods sold. Enter the transactions in chronological order. Now, determine the cost of goods sold. Enter the transactions in chronological order. Date Quantity Unit Cost Total Cost May Total