Perpetual Inventory

Using Weighted Average

Beginning inventory, purchases, and sales for WCS12 are as follows:

Oct. 1 Inventory 330 units at $15

13 Sale 170 units

22 Purchase 340 units at $16

29 Sale 400 units

a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places.

$ fill in the blank 1 per unit

b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places.

$fill in the blank 2 c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places.

$fill in the blank 3