The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 15,000 units at $60.00 Mar. 18 Sale 12,000 units 27,000 units at $62,00 May 2 Purchase Aug. 9 Sale 22,500 units Oct 20 Purchase 10,500 units at $64.20 The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of merchandise sold for each sale and the inventory balance after each sale. Present the data in the form ilustrated in Exhibit 5. Round unit cost to two decimal places, if necessary. Perpetual Inventory Account Weighted Average Cost How Method Purchases Cost of Merchandise Sold Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Jan, 1 15,000 Mal 10 12,000 50 720,000 12,000 x May 2 27,000 52 1,674,000 27,000 x Aud9 22,500 62 X 1,395,000 X 22,500 X Oct 20 10,500 64.20 V 674,100 10,500 x Dec. 31 Balances 2,115,000 x 87,000 x Inventory Quantity Unit Cost Total Cost 15,000 60 $ 900,000 12,000 x 60 720,000 X 27,000 x 62 X 1,674,000 X 22,500 X 62 X 1,395,000 X 10,500 x 64.20 X 674,100 x 87,000 X $ 308.2 X $ 5,363,100 X