Question: I need help with the journal entries using a perpetual inventory system and the weighted average cost formula. Current Attempt in Progress You are given
I need help with the journal entries using a perpetual inventory system and the weighted average cost formula.



Current Attempt in Progress You are given the following information for Carla Vista Company. All transactions are settled in cash. Carla Vista uses a perpetual inventory system and the weighted average cost formula. Increased competition has reduced the price of the product. July 15 Merchandise Inventory Cash July 20 Cash Sales (To record cash sales.) July 20 Cost of Goods Sold Merchandise Inventory (To record cost of goods sold.) July 25 Merchandise Inventory Cash Prepare the required journal entries for the month of July for Carla Vista Company. (Round the weighted average cost per unit and final answers to 2 decimal places, e.g. 5,275.50. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)
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