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	15,000	units at $60.00
Mar. 18	Sale	12,000	units
May 2	Purchase	27,000	units at $62.00
Aug. 9	Sale	22,500	units
Oct. 20	Purchase	10,500	units at $64.20

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.

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 15,000 units at $60.00 12,000 units Mar. 18 Sale May 2 Purchase 27,000 units at $62.00 Aug. 9 Sale 22,500 units 10,500 units at $64.20 Oct. 20 Purchase 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. Perpetual Inventory Account Weighted Average Cost Flow Method Purchases Cost of Merchandise Sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Jan. 1 $ $ Mar. 18 $ $ May 2 $ $ Aug. 9 Oct. 20 Dec. 31 Balances