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question perpetual inventory using weighted average beginning inventory purchases an 4277710

Question

Perpetual Inventory Using Weighted Average

Beginning inventory, purchases, and sales for Meta-B1 are as follows:

a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the July 23 purchase.

$per unit

b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of the merchandise sold on July 26.

$

c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on July 31.

$

July 1

 

Inventory

100 units at $400

12

 

Sale

70 units

23

 

Purchase

120 units at $450

26

 

Sale

110 units

 

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