The Allarco Inc. company has the following purchases and sales during the year ended December 31, 2014. Sales Inventory and Purchases. Beginning: 400 units @$48/unit April 30. February 7: 400 units @ $43/unit 200 units October 15: 200 units August 23: 150 units @$46/unit The units have a selling price of $60.00 per unit. a) Given that Allarco Inc. employs a perpetual inventory system, calculate the cost of goods available for sale and the number of units available for sale, as well as the units remaining in ending inventory Cost of goods available for sale Units available for sale Units remaining in ending inventory: b) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross profit earned by Allarco Inc. using the weighted average system. Calculate weighted average cost per unit of merchandise inventory to the nearest cent Cost of Goods Sold Ending Inventory Gross Profit Weighted Average c) Prepare journal entries to record the following (assuming all sales and purchases are for cash): (a) The purchase on August 23, (b) The sale on October 15 Enter the transaction letter as the description when preparing a journal entry. When a transaction requires two separate journal entries, use the same letter for both descriptions Dates must be entered in the format dd/mmm (ie. 15/Jan) Date General Joumal Account/Explanation F Debit Page GJB Credit Cost of Goods Sold Ending Inventory Gross Profit Weighted Average Prepare journal entries to record the following (assuming all sales and purchases are for cash): (a) The purchase on August 23, (b) The sale on October 15. Enter the ransaction letter as the description when preparing a journal entry. When a transaction requires two separate journal entries, use the same letter for both descriptions Dates must be entered in the format dd/mmm (ie. 15/Jan). Date FI 4 THI General Journal Account/Explanation Page GJB F Debit Credit