Question: 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.

Weighted Average Cost Flow Method Under Perpetual Inventory System The following

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 8,000 units at$40 Apr. 19 Sale 5,000 units June 30 Purchase 12,000 units at $48 Sept 2 Sale 9,000 units Nov. 15 Purchase 2,000 units at $50 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 the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary

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