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Inventory and Purchases Beginning: 200 units @ $24/unit February 23: 200 units @ $26/unit July 24: 200 units @ $28/unit Sales May 18: 200 units

Inventory and Purchases Beginning: 200 units @ $24/unit February 23: 200 units @ $26/unit July 24: 200 units @ $28/unit Sales May 18: 200 units December 20: 300 units The units have a selling price of $30.00 per unit. a) Given that Weber Inc. employs a perpetual inventory system, calculate the cost of goods available for sale and the number of units available for sale, as well as the units remaining in ending inventory. Cost of goods available for sale: Units available for sale: Units remaining in ending inventory: b) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross profit earned by Weber Inc. using the weighted average system. Calculate weighted average cost per unit of merchandise inventory to the nearest cent. Cost of Goods Sold Ending Inventory Gross Profit Weighted Average suurnal entries to record the following (assuming all sales and purchases are for cash): (a) The purchase on February 23, (b) The sale on December 20. Enter the transaction conarate inurnal entries, use the same letter for both descriptions. Dates must be entered in the c) Prepare journal entries to record the following (assuming all sales and purchases are for cash): (a) The purchase on February 23, (b) The sale on December 20. Enter the transaction letter as the description when preparing a journal entry. When a transaction requires two separate journal entries, use the same letter for both descriptions Dates must be entered in the format dd/mmm (ie. 15/Jan). Date General Journal Page GJ8 Account/Explanation F Debit Credit 4 + 4

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