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	4,000 units at $50
Apr. 19	Sale	2,500 units
June 30	Purchase	4,500 units at $54
Sept. 2	Sale	5,000 units
Nov. 15	Purchase	2,000 units at $56

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.

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
Apr. 19
June 30
Sept. 2
Nov. 15
Dec. 31