Financial Accounting 1-Chapter 7-Homework for Credit Complete the following Chapter 7 Exercises. (See last page for coples of the textbook exercises.) Place your responses in the provided inventory ledgers below. Save file and upload to Canvas assignment. Answer Sheet Student Name 9. Purchases Cost of Merchandise Sold Inventory Unit Date Quantity Cost Total Cost Quantity Unit Cost Total Cost Total Quantity Unit Cost Cost Total cost of merchandise sold Ending inventory cost EX 7-9. Weighted Average Cost Flow Method Under Perpetual Inventory System OBJ.3 The following units of a particular item were available for sale during the calendar year: Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 4,000 units at $20 2,500 units Inventory Sale Purchase 6,000 units at $24 4,500 units 1,000 units at $25 Sale Purchase 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