Weighted average cost flow method under perpetual inventory system Obj. 3 The following units of a particular item were available for sale during the calendar year:

Jan. 1 Inventory 4,000 units at $40 Apr. 19 Sale 2,500 units June 30 Purchase 4,500 units at $44 Sept. 2 Sale 5,000 units Nov. 15 Purchase 2,000 units at $46 The firm uses the weighted average cost method with a perpetual inventory system.

Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5.

AppendixLO1