Weighted average cost flow method under perpetual inventory system The following units of a particular item were available for sale during the calendar year: Date Line Item Description Units and Cost Jan. 1 Inventory 9,000 units at $50.00 Mar. 18 Sale 7,000 units May 2 Purchase 8,000 units at $56.50 Aug. 9 Sale 8,000 units Oct. 20 Purchase 4,000 units at $60.00 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 your "Unit Cost" answers to two decimal places. Weighted Average Cost Flow Method Date PurchasesQuantity PurchasesUnit Cost PurchasesTotal Cost Cost of Goods SoldQuantity Cost of Goods SoldUnit Cost Cost of Goods SoldTotal Cost InventoryQuantity InventoryUnit Cost InventoryTotal Cost Jan. 1             fill in the blank 1 fill in the blank 2 fill in the blank 3 Mar. 18       fill in the blank 4 fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 fill in the blank 9 May 2 fill in the blank 10 fill in the blank 11 fill in the blank 12       fill in the blank 13 fill in the blank 14 fill in the blank 15 Aug. 9       fill in the blank 16 fill in the blank 17 fill in the blank 18 fill in the blank 19 fill in the blank 20 fill in the blank 21 Oct. 20 fill in the blank 22 fill in the blank 23 fill in the blank 24       fill in the blank 25 fill in the blank 26 fill in the blank 27 Dec. 31 Balances         fill in the blank 28 fill in the blank 29 fill in the blank 30 fill in the blank 31   Feedback Area   Feedback

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