Weighted average cost flow method under perpetual inventory system

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

Date Line Item Description Units and Cost

Jan. $1$ Inventory $9,000$ units at $$50\mathrm{.}00$

Mar. $18$ Sale $7,000$ units

May $2$ Purchase $8,000$ units at $$56\mathrm{.}50$

Aug. $9$ Sale $8,000$ units

Oct. $20$ Purchase $4,000$ units at $$60\mathrm{.}00$

The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit $5.$ Round your "Unit Cost" answers to two decimal places.

Weighted Average Cost Flow Method

Date Purchases

Quantity Purchases

Unit Cost Purchases

Total Cost Cost of Goods Sold

Quantity Cost of Goods Sold

Unit Cost Cost of Goods Sold

Total Cost Inventory

Quantity Inventory

Unit Cost Inventory

Total Cost

Jan. $1$

Mar. $18$

f

Aug. $9$

Oct. $20$

Dec. $31$ Balances