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

10,000 units at $75.00

Mar. 18

Sale

8,000 units

May 2

Purchase

18,000 units at $77.50

Aug. 9

Sale

15,000 units

Oct. 20

Purchase

7,000 units at $80.25

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 unit cost to two

decimal places, if necessary.

please answer all

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