Question: Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for H76 are as follows: July 1 Inventory 300 units at $120 12 Sale 210

Perpetual Inventory Using Weighted Average

Beginning inventory, purchases, and sales for H76 are as follows:

July 1 Inventory 300 units at $120
12 Sale 210 units
23 Purchase 360 units at $135
26 Sale 330 units

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

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.

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