ABC Co. sells goods using a perpetual inventory system. The following information relates to the its purchases and sales of its most popular product. On April 1. ABC Co. had 20 units with a cost of $50. a) Use the weighted average cost method to calculate the cost of goods sold and ending inventory for the month Calculate weighted average cost per unit to the nearest a penny ($0.01) and calculate inventory and cost of goods sold to the nearest dollar ($1). b) At year end, the net realizable value of the ending inventory is $50 per unit. Prepare the resulting adjusting entry Purchases Sales Units Cost Units Units 50 Unit Cost $52 25 $75 DATE April 3 April 6 April 12 April 19 April 23 April 27 April 30 35 21 $53 $55 83 10 $78 $77 75 $58