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Question - Perpetual Inventory Using Weighted Average - Beginning inventory, purchases, and sales for H76 are as follows:
July 1 Inventory 300 units at $120
July 12 Sale 210 units
July 23 Purchase 360 units at $135
July 26 Sale 330 units
Required -
a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the July 23 purchase.
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.
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