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Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for Meta-B1 are as follows: July 1 Inventory100 units at $400 12 Sale 23 Purchase 26 Sale 70 units 120 units at $450 110 units a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cot after the July 23 purchase. per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of the merchandise sold on July 26 c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on July 31. 523 PM 2/28/2019 2 1 Snow Me How Calculator Print Item Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory Purchase Purchase 10 units at $25 15 units at $28 13 units at $30 38 units $250 420 390 $1,060 Aug. 7 Dec. 11 There are 18 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out (FIFO) method; (b) the las t-in, first-out (LIFO) method; and (c) the weighted average cost method (round per unit cost to two decimal places and your final answer to the nearest whole dollar). a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost 524 PM