Perpetual Inventory Using Weighted Average
Beginning inventory, purchases, and sales for Meta-B1 are as follows:
July 1
Inventory
100 units at $400
12
Sale
70 units
23
Purchase
120 units at $450
26
Sale
110 units
a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the July 23 purchase.
$ per unit
b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of the merchandise sold on July 26.
$
c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on July 31.
$