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 Sale 8,000 units 18 units at May 2 Purchase 18,000 $77.50 Aug. 9 Sale Oct 20 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. Round unit cost to two decimal places, if necessary 15,000 units units at Purchase 7,000 $80.25 Schedule of Cost of Goods Sold Weighted Average Cost Flow Method Purchases Cost of Goods Sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Jan. 1 Mar. 18 May 2 ug. 9 Oct. 20 Dec. 31 Balances