Accounting : Perpetual Inventory Using Weighted Average

Subject: Business    / Accounting
Question

Perpetual Inventory Using Weighted Average

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.