Question: Perpetual inventory using weighted average Obj. 3 Beginning inventory, purchases, and sales for 30xT are as follows: May 1 Inventory 50 units at $80 12

Perpetual inventory using weighted average Obj. 3 Beginning inventory, purchases, and sales for 30xT are as follows:

May 1 Inventory 50 units at $80 12 Sale 35 units 23 Purchase 60 units at $90 26 Sale 55 units Assuming a perpetual inventory system and using the weighted average method, determine the

(a) weighted average unit cost after the May 23 purchase,

(b) cost of goods sold on May 26, and

(c) inventory on May 31.

AppendixLO1

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