Refer to the Vista Distributors situation in Problem 6-2A. Keep all the data unchanged, except assume that Vista uses the moving-weighted-average-cost method.
In Problem 6-2A
Jul. 10 Purchased 30 units at $320.
15 Sold 40 units at $700.
22 Purchased 70 units at $350.
29 Sold 75 units at $800.
Required
1. Prepared a perpetual inventory record at moving-weighted-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 Vista Distributors for the month of January.