Weighted Average Inventory and PEPS Valuation Methods Exercise 1: Below is information for the month of April for the only product sold by POWER Inc. Balance as of April 1: 120 units at $ 7.00 each. PURCHASES Date 07-April April 12 April 22 Units Sale price in $ (each) 70 9.44 90 10.62 75 11.80 SALES Date Units April 8 80 April 11 90 April 21 50 April 24 15 Sale Value in $ (each) 13.00 14.00 15.00 15.00 It is requested: a) Prepare inventory movement records for April using the Weighted Average and PEPS (FIFO) methods. b) Analyze the differences in cost of sales and inventory balance obtained by both costing methods.