Accounting : Perpetual Inventory Using Weighted Average
Accounting : Perpetual Inventory Using Weighted Average
Subject: Business   / Accounting
Question
Perpetual Inventory Using Weighted Average
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Beginning inventory, purchases, and sales for 30xT are as follows:
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May 1      Inventory   50 units at $80
12      Sale   35 units
23      Purchase   60 units at $90
26      Sale   55 units
a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the May 23 purchase.
$per unit
b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of the merchandise sold on May 26.
$
c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on May 31.