rief Exercise 6-34. Weighted Average Method, Unit Cost, Valuing Inventories Objective 3 Example 6.4 Polson Enterprises produces strawberry gelato. Output is measured in quarts. Polson uses the weighted average method. During July, Polson had the following production data: Units in process, July 1, 60% complete 54,000 quarts Units completed and transferred out 360,000 quarts Units In process, July 31, 40% complete 112,500 quarts Costs: Work in process, July 1 Costs added during July $ 81,000 526,500 Required: 1. Using the weighted average method, calculate the equivalent units for July. 2. Calculate the unit cost for July. 3. Assign costs to units transferred out and EWIP.