Refer to the data for Inland Equipment in P6-1A. However, assume Inland Equipment uses the average..

Refer to the data for Inland Equipment in P6-1A. However, assume Inland Equipment uses the average cost method. In P6-1A Apr 6 Purchased 125 units @ $160 13 Sold 110 units @ $310 19 Purchased 130 units @ $168 25 Sold 80 units @ $310 29 Sold 75 units @ $310 Requirements 1. Prepare a perpetual inventory record using average cost. Round the average unit cost to the nearest cent and all other amounts to the nearest dollar. 2. Prepare a multi-step income statement for Inland Equipment for the month of April.

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