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1. Trout company uses a perpetual system and made purchases and sales of a particular product as follows: Date Purchase Number of units Cost per unit Total Cost Jan 1 beginning 75 $12.00 $900 March 14 purchase 80 $13.00 $1040 July 30 purchase 500 $14.00 $7000 October 4 purchase 450 $15.00 $6750 Units available 1105 Cost of Goods $15690 The company makes sales in the following dates Date Sale Number of units Jan 10 sale 60 units March 15 sale 40 units Oct 15 sale 350 units Total 450 units Assign the cost of the inventory using the following Weighted Average (7 marks)