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 30,000 units at $30.00 Mar. 18 Sale 24,000 units May 2 Purchase 54,000 units at $31.00 Aug. 9 Sale 45,000 units Oct. 20 Purchase 21,000 units at $32.10 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. Schedule of Cost of Merchandise Sold Weighted Average Cost Flow Method Purchases Cost of Merchandise Sold Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Jan. 1 Mar. 18 May 2 |Aug. 9 ?invokerStake AssignmentSessionLocator Sinprogress Perpetual Inventory System re available for sale during the calendar year: s at $30.00 is at $31.00 is at $32.10 nethod with a perpetual Inventory system. Determine the cost of merchandise sold for each sale and the the data in the form illustrated in Exhibit S. Round unit cost to two decimal places, if necessary. Schedule of Cost of Merchandise Sold Weighted Average Cost Flow Method rchases Cost of Merchandise Sold it Cost Total Cost Quantity Unit Cost Total Cost Quantity Inventory Unit Cost Total Cost woker=&takeAssignmentSessionLocator -&inprogress... Jan. 1 Inventory 30,000 units at $30,00 Mar. 18 Sale 24,000 units May 2 Purchase 54,000 units at $31.00 Aug. 9 Sale 45,000 units Oct. 20 Purchase 21,000 units at $32.10 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, Schedule of cost of Merchandise Sold Weighted Average Cost Flow Method Purchases Cost of Merchandise Sold Unit Cost Date Quantity Total Cost Quantity Unit Cost Total Cost Quantity Jan. 1 Mar. 18 May 2 Aug. 9 Oct. 20 Dec. 31 Balances Is at $30.00 takeAssignmentSessionLocator=&inprogress, re is is at $31.00 IS Is at $32.10 pethod with a perpetual inventory system. Determine the cost of merchandise sold for each sale and the the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary. Schedule of Cost of Merchandise Sold Weighted Average Cost Flow Method Cost of Merchandise Sold Quantity Unit Cost Total Cost rchases it Cost Total Cost Inventory Unit Cost Quantity Total Cost