The beginning inventory for Tschabold Co. and data on purchases and sales for a two-month period are shown in Problem 6-3A. Round the average cost to two decimal places.
In Problem 6-3 A
The beginning inventory of merchandise at Tschabold Co. and data on purchases and sales for a two-month period are as follows:

Instructions
1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 4, on page 311, using the moving weighted average cost method.
2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period.
3. Determine the ending inventory cost.

Transcribed Image Text:

Number Per Transaction of Units Unit Date Total $90,000 150,000 220,000 315,000 157,500 32.000 972,500 May 5 Inventory 60 30 100 60 30 180 90 $1,500 5,000 2,200 5,250 5,250 2,400 5,250 19 Sale 28 Purchase Jun. 5 Sale 16 Sale 21 Purchase 28 Sale