Weighted average cost flow method under perpetual inventory system Jan. 1 Apr. 19 Inventory Sale The following units of a particular item were available for sale during the calendar year: 4,000 units at $50 2,500 units Purchase 4,500 units at $54 Sale Purchase 5,000 units 2,000 units at $56 June 30 Sept. 2 Nov. 15 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. Weighted Average Cost Flow Method Date Purchases Quantity Purchases Unit Cost Purchases Total Cost Cost of Goods Sold Cost of Goods Sold Quantity Unit Cost Cost of Goods Sold Total Cost Inventory Quantity Inventory Inventory Unit Cost Total Cost Jan. 1 4,000 x 160,000 X Apr. 19 2,500 1,500 60,000 X June 30 4,500 44 x 19,800 X 6,000 43 X 258,000 X Sept. 2 5,000 x 215,000 X 1,000 43 X Nov. 15 2,000 46 x 92,000 X 3,000 45 X 43,000 X 135,000 X Dec. 31 Balances 315,000 X 3,000 45 X 135,000 X