Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory Mar. 18 Sale May 2 Purchase Aug. 9 Sale Oct. 20 Purchase 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 illustrated in Exhibit 5. Round unit cost to two decimal places if necessary. 30,000 units at $30.00 24,000 units 54,000 units at $31.00 45,000 units 21,000 units at $32.10 Schedule of Cost of Merchandise Soled Weighted Average Cost Flow Method Cost of Merchandise Sold Purchases Unit Cost Total Cost Total Cost Quantity Date Quantity Unit Cost an. 1 Mar. 18 May 2