< Weighted Average Method, Unit Cost, Valuing Inventories Polson Enterprises produces strawberry gelato. Output is measured in quarts. Polson uses the weighted average method. During July, Polson had the following production data: Units in process, July 1, 60% complete Units completed and transferred out 54,000 quarts 360,000 quarts Units in process, July 31, 40% complete 112,500 quarts Costs: Work in process, July 1 Costs added during July Required: $81,000 526,500 1. Using the weighted average method, calculate the equivalent units for July. equivalent units 2. Calculate the unit cost for July. Round your answer to the nearest cent. per unit 3. Assign costs to units transferred out and EWIP. Cost of goods transferred out Ending work in process