The inventory records for Bracken Sales appear below: Inventory Beg. Bal. (20 units @ $40) 800 Purchases Cost of Goods Sold (150 units @?) No. 1: (100 units @ $60) 6,000 No. 2: (80 units @ $80) 6,400 Using the average-cost method, what is the weighted-average unit cost? A. $54.67 B. $60.00 C. $66.00 D. $68.89 Refer to Question 1. Using the average-cost method, what is the cost of goods sold? A. $9,900 B. $2,870 C. $7,000 D. $9,000 Refer to Question 1. What value is assigned to the ending inventory, if using FIFO?! A. $9,200 B. $10,600 C. $2,600 D. $4,000 3. Gross profit plus cost of goods sold equals: A. sales revenue. B. purchases. C. beginning inventory. D. ending inventory. The perpetual inventory system: A. is used by few businesses. B. requires an annual count of inventory on hand. C. keeps a periodic record for each inventory item