Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WC512 are as follows: Oct. 1 Inventory 300 units at $8 13 Sale 150 units 22 Purchase 350 units at $10 29 Sale 400 units a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. $ 15.92 X per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost to two decimal places. $ 6,368 x C. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost to two decimal places. $ 1,592 x Feedback Check My Work When the average cost method is used in a perpetual inventory system, an average unit cost for each item is computed each time a purchase is made. This unit cost is used to determine the cost of each sale until another purchase is made and a new average is computed. Periodic Inventory Using FIFO, LIFO, and weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory Aug. 13 Purchase Nov. 30 Purchase Available for sale 4 units at $49 12 units at $50 5 units at $52 $196 600 260 21 units $1,056 There are 6 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar). a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost 180