Perpetual Inventory Using Weighted Average

Beginning inventory, purchases, and sales for H76 are as follows:

July 1		Inventory	300 units at $120
12		Sale	210 units
23		Purchase	360 units at $135
26		Sale	330 units

a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the July 23 purchase.

b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of the merchandise sold on July 26.

c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on July 31.