, Weighted Average Cost Flow Method Under Perpetual Inventory System 0 The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 30,000 units at $30.00 Mar. 18 Sale 24,000 units May 2 Purchase 54,000 units at $31.00 Sale 45,000 units Aug. 9 Oct. 20 Purchase 21,000 units at $32.10 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. Round unit cost to two decimal places, if necessary. Schedule of Cost of Merchandise Sold Weighted Average Cost Flow Method Cost of Merchandise Sold Quantity Unit Cost Tota Purchases Date Quantity Unit Cost Total Cost 24,000 Check My Work 1 more Check My Work uses remaining Previous Next > Email Instructor Save and Exit Submit Assignment for Grading Solved: Periodic Inventory By Three Methods; Answer to Periodic Inventory by Three Methods: Cost of Merchal Item available for sale during the year we...... system is used. Det and the cost of merchandise sold by three methods. Round Intel decimal and final answers to the nearest whole dollar Schedule of Cost of Merchandise Sold Weighted Average Cost Flow Method Cost of Merchandise Sold Quantity Unit Cost Total Cost Inventory Unit Cost Quantity Total Cost 30,000s 30s 900,000 24,000 s 30 vs 720,000 6,000 V 30 | 180,000 60,000 1,854,000 V 45,000 1,395,000 X 15,000 463,500 36,000 31.6 1,137,600 2,115,000 X 36,000 31.6 1,137,600 Check My Work 1 more Check My Work uses remaining Previous Next