exercise world began October with merchandise inventory of 95 crates of vitamins that cost a total of $3800 during the months exercise world purchase and sold merchandise on account as follows

October 5 purchase 155 crates at $71 each

October 13 sale 180 crates at $96 each

October 18 purchase 193 crates at $75 each

October 26 sale 200 crates at $102 each

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

begin by computing the cost of goods sold and cost of ending 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 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.