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Ex 7-9 weighted average cost flow method under perpetual inventory system

The following units of a particular item were available for sale during the calendar year:

Jan 1	Inventory	8,000	Units @ $40
Apr 19	Sale	5,000	Units
June 30	Purchase	12,000	Units @ $48
Sept 2	Sale	9,000	Units
Nov 15	Purchase	2,000	Units @ $50

The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of merchandise sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5

Ex 7-10 perpetual inventory system using FIFO

Assume that the business in exercise 7-9 maintains a perpetual inventory system. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, assuming the first-in, first-out method. present the data in the form illustrated in Exhibit 3.