A company's inventory records show the following data for the month of July.
Date Activities Units Acquired at Cost Units Sold at Retail
July 1 Beginning inventory 100 units @ $33 =
$3,300
July 5 Purchase 50 units @ $36 = $1,800
July 10 Sale 75 units @ $50
July 20 Purchase 225 units @ $38 =
$8,550
July 25 Sale 200 units @ $50
If the company uses the weighted average method and the perpetual inventory system, what would be the cost of its ending
inventory?
Goods purchased Cost of Goods Sold Inventory Balance
Date
Number of Cost per Number Cost per Cost of Goods Number of Cost per unit Inventory Balance
units unit of units unit Sold units
sold
July 1 +
July 5
Average cost July 5
July 10
July 20
Average cost July 20
July 25
Total July 25
