Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for Meta-B1 are as follows: July 1 Inventory 100 units at $400 12 Sale 70 units 23 Purchase 120 units at $450 26 Sale 110 units a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost 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. Effect of Errors in Physical Inventory Missouri River Supply Co. sells canoes, kayaks, whitewater rafts, and other boating supplies. During the taking of its physical inventory on December 31, 2012, Missouri River Supply incorrectly counted its inventory as $846,090 instead of the correct amount of $871,470. Enter all amounts as positive numbers. a. State the effect of the error on the December 31, 20Y2, balance sheet of Missouri River Supply Balance Sheet Items Understated/Overstated Amount Merchandise Inventory Current Assets Total Assets Owner's Equity b. State the effect of the error on the income statement of Missouri River Supply for the year ended December 31, 2012. Income Statement Items Overstated/Understated Cost of Merchandise Sold Gross Profit Net Income C. If uncorrected, what would be the effect of the error on the 2013 income statement? Overstated/Understated Income Statement Items Cost of Merchandise Sold