*P6.13A (LO 2, 7) AP Aldor Corporation opened a new store on January 1, 2021. During 2021, the first year of operations, the following purchases and sales of inventory were made: Apply periodic and perpetual weighted average. Date Purchases Units Cost per unit 10 $1,000 Date Sales Units Price per unit 15 $2,000 Jan. 5 June 11 Oct. 18 July 4 Dec. 29 10 1,200 35 2,000 15 1,300 1,500 Dec. 20 20 Instructions a. Calculate the cost of goods available for sale and the number of units of ending inventory. b. Assume Aldor uses weighted average periodic. Calculate the cost of ending inventory, cost of the goods sold, and gross profit. C. Assume Aldor uses weighted average perpetual. Calculate the cost of ending inventory, cost of the goods sold, and gross profit. d. Prepare journal entries to record the December 20 purchase and the December 29 sale using (1) weighted average periodic and (2) weighted average perpetual. Assume both the sale and purchase were for cash. e. Compare the results of parts (b) and (c) above and comment. Taking It Further If a company uses the weighted average cost formula, are there any benefits to using weighted average in a perpetual inventory system compared with using weighted average in a periodic inventory system? Explain