P6-33B

Accounting for inventory using the perpetual inventory system and weighted average.

Fit World began January with merchandise inventory of 90 crates of vitamins that cost a total of $5,850. During the month, Fit World purchased and sold merchandise on account as follows:

Jan. 2 Purchase 130 crates@ $ 76 each

Jan. 5 Sale 140 crates @ $100 each

Jan. 16 Purchase 170 crates @ $86 each

Jan. 27 Sale 180 crates @ $104 each

PREPARE a perpetual inventory record, using the weighted-average inventory costing method, and determine the company's cost of goods sold, ending merchanise inventory, and gross profit. (round weighted average cost per unit to the nearest cent and all other amounts to the nearest dollar.

Thank you, very urgent!!