Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 10,000 units at $75.00 Mar. 18 Sale May 2 Purchase Aug. 9 Sale Oct. 20 Purchase 8,000 units 18,000 units at $77.50 15,000 units 7,000 units at $80.25 The frm 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 Present the data in the form illustrated in Exhibit 5. Round unt cost to two decimal places, if necessary Schedule of Cost of Goods Sold Weighted Average Cost Flow Method Purchases Cost of Goods Sold Ir Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Un an. 1 Mat, 18 May 2 Aug. 9 Oct. 20 Dec. 31 Balances