Company M uses the perpetual inventory system and valuates inventory using the weighted average method. > Calculate the ending inventory for March, assuming that the goods were sold for $10/unit. (6 Marks) > Record journal entry for purchase on March 26 (2 Marks) > Record journal entry for sale on March 28 (3 Marks) Date 1-Mar 5-Mar Explanation Beginning Inventory Sale Units 50 Unit Cost 2.00 20 Purchase 30 2.50 10-Mar 15-Mar 22-Mar 24 Sale 40 Purchase Purchase Sale 50 20 3.00 3.25 26-Mar 28-Mar 60