The beginning inventory for Cave Co. and data on purchases and sales for a two-month period are shown in Problem 6-3B. Round the average cost to two decimal places.
In problem 6-3B
The beginning inventory of merchandise at Cave Co. and data on purchases and sales for a two-month period are as follows:

Instructions
1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 4, on page 311, using the moving weighted average cost method.
2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period.
3. Determine the ending inventory cost.

Number Per Transaction of Units Unit Date Total Jul. 5 Inventory 16 Sale 28 Sale Aug. 5 Purchase 14 Sale S20 42 45 24 50 25 50 $2,000 3,780 225 4,200 6,000 3,750 5,000 100 90 175 120 150 100 25 Purchase 30 Sale