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 4,000 units at $40 Apr. 19 Sale 2,500 units June 30 Purchase 4,500 units at $44 Sept. 2 Sale 5,000 units Nov. 15 Purchase 2,000 units at $46 The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5.) Schedule of Cost of Goods Sold Weighted Average Cost Flow Method Purchases Cost of Goods Sold Inventory Date Quantity Unit Unit Total Total Quantity Cost To Quantity Unit Gosto st Cost The firm uses the weighted average cost method with a perpetual i VENILUI) Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated i Exhibit 5.) Schedule of Cost of Goods Sold Weighted Average Cost Flow Method Purchases Cost of Goods Sold Unit Date Quantity Cost Unit cost Total Quantity Cost Inventory Unit ntity Cost Total Quantity cost Total Cost Jan. 1 Apr. 19 June 30 Sept. Nov. 15 Dec. Balances 8 more Check My Work uses remaining Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 2,500 units at $5 Feb. 17 Purchase 3,300 units at $6 July 21 Purchase 3,000 units at $7 Nov. 23 Purchase 1,200 units at $8 There are 1,500 units of the item in the physical inventory at December 31. The periodic inventory system is used. a. Determine the inventory cost by the first-in, first-out method. b. Determine the inventory cost by the last-in, first-out method. c. Determine the inventory cost by the weighted average cost method. s July 21 Purchase 3,000 units at $) Nov. 23 Purchase 1,200 units at $8 Where are 1,500 units of the item in the physical inventory at December 31. The periodic inventory system is used. a. Determine the inventory cost by the first-in, first-out method. s b. Determine the inventory cost by the last-in, first-out method. $ c. Determine the inventory cost by the weighted average cost method. $ 8 more Check My Work uses remaining