The beginning inventory for Chris Smith Co. and data on purchases and sales for a two-month period are shown in Problem 6-1A. Round the average cost to two decimal places.
In problem 6-1A
The beginning inventory of merchandise at Chris Smith 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.

Per Number of Units 60 120 80 50 100 50 Date Transaction Unit $1,500 1,800 5, D00 5,D00 2, DOD 5,000 Total S 90,000 216,000 400,000 250,000 200,000 300,000 Mar 3 Inventory 8 Purchase 11 Sale 30 Sale Apr. 8 Purchase 10 Sale