Determine the cost of the merchandise sold on july

Reference no: EM132477131

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

Question a. a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the July 23 purchase.

Question b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of the merchandise sold on July 26.

Question c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on July 31.

Reference no: EM132477131

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