exercise planet began October with merchandise inventory of 65 crates of vitamins that cost a total of $3835 during the month exercise planet purchased and sold merchandise on account as follows

October 5 purchase 145 crates at $80 each

October 13 sale 160 crates at $104 each

October 18 purchase 170 crates at $90 each

October 26 sale 175 crates at $116 each

prepare a perpetual inventory record using the weighted average inventory costing method and determine the companies cost of good sold any merchandise inventory and gross profit

begin by computing the cost of goods sold and cost of any merchandise inventory using the weighted average inventory costing method 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 merchandise inventory purchased sold and on hand at the end of the period round weighted average cost per unit to the nearest sent and all other amounts to the nearest dollar