Book Show Me How Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for sale during the calendar year: 15,000 units at $60.00 12,000 units Jan. 1 Inventory Mar. 18 Sale May 21 Purchase 27,000 units at $62.00 Aug. 9 Sale Oct. 20 Purchase 22,500 units 10,500 units at $64.20 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. Perpetual Inventory Account Weighted Average Cost Flow Method Purchases Cost of Merchandise Sold Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Qui Jan. 1 Mar. 18 12,000 May 21 27,000 1,674,000 ry system. Determine the cost of merchandise sold for each sale and the inventory balance after mit cost to two decimal places, if necessary. Perpetual Inventory Account Weighted Average Cost Flow Method Cost of Merchandise Sold otal Cost Quantity 1,674,000 12,000 22,500 V 674,100 V Unit Cost Inventory Total Cost Quantity Unit Cost Total Cost Be determined after each purchase by dividing the total of cost of merchandise on hand by the Accounting numeric field