Question 3 [45 points] Allarco Inc. has the following purchases and sales during the year ended December 31, 2014. Inventory and Purchases Sales Sales Return January 1: 300 units @ $81/unit May 26: 200 units May 27 (100) units from May 26 January 8: 200 units @ $73/unit July 23: 200 units Purchase Return June 1: 100 units @ $78/unit January 9: (20) units from January 8 The units have a selling price of $110.00 per unit. Calculate weighted average cost per unit of merchandise inventory to the nearest cent. a) Fill in the following cost flow schedule using the weighted average system. Purchases/Transportation-In/ Cost of Goods Sold/ (Purchase Returns/Discounts) (Returns to Inventory) Balance in Inventory Date Units Cost/Unit Total $ Units Cost/Unit Total $ Units AvgCost/Unit Total $ January 1 300 81 24,300 January 8 200 14,600 January 9 (20) May 26 200 May 27 June 1 July 23 73 b) Based on the cost flow schedule, complete the following table: Total Units Total Cost of Units Total Total Cost Available for Sale Available for Sale Units Sold of Goods Sold Total Units in Total Cost of Units Ending Inventory in Ending Inventory