E6-18 (similar to) Putter's Choice carries an inventory of putters and other golf clubs. The sales price of each putter is $117. Company records indicate the following for a particular line of Putter's Choice's putters: (Click the icon to view the records.) Read the requirements. Question Help Requirement 1. Prepare Putter's Choice's perpetual inventory record for the putters assuming Putter's Choice uses the weighted-average inventory costing method. Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar. Then identify the cost of ending inventory and cost of goods sold for the month. Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. Cost of Goods Sold Inventory on Hand Purchases Date Sep. Sep. 6 Quantity Unit Cost Total Cost Unit Total Unit Total Quantity Cost Cost Quantity Cost Cost 22 $ 60 $ 1,320 12 $ 60 $ 720 10 $ 60 $ 600 Data Table Sep. 8 25 $ 81 $ 2,025 35 $ Sep. 17 Sep. 30 25 $ 3 $ 75 $ 1,875 75 $ 10 $ 75 $ 2,625 75 $ 750 Date 225 7 $ 75 $ Item 525 Quantity Unit Cost $ 2,025 $ 2,820 $ 525 Sep. 1 Balance 22 $ 60 Totals 25 40 7 Sep. 6 Sale 12 Determine the cost of ending inventory using the weighted-average inventory costing method. The cost of ending inventory using the weighted-average inventory costing method is Determine cost of goods sold using the weighted-average inventory costing method. The cost of goods sold using the weighted-average inventory costing method is Sep. 8 Purchase 25 81 $ 525 Sep. 17 Sale 25 Sep. 30 Sale 3 Print Done Enter any number in the edit fields and then click Check Answer. 7 parts remaining Clear All - X Requirements 1. Prepare Putter's Choice's perpetual inventory record for the putters assuming Putter's Choice uses the weighted-average inventory costing method. Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar. Then identify the cost of ending inventory and cost of goods sold for the month. 2. Journalize Putter's Choice's inventory transactions using the weighted-average inventory costing method. (Assume purchases and sales are made on account.) Print Done Check Answer