1. Question Content Area

   Weighted average cost flow method under perpetual inventory system

   The following units of a particular item were available for sale during the calendar year:

   Date	Line Item Description	Units and Cost
   Jan. 1	Inventory	9,000	units at $50.00
   Mar. 18	Sale	7,000	units
   May 2	Purchase	8,000	units at $56.50
   Aug. 9	Sale	8,000	units
   Oct. 20	Purchase	4,000	units at $60.00

   The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round your "Unit Cost" answers to two decimal places.

   Weighted Average Cost Flow Method

   Date	Purchases Quantity	Purchases Unit Cost	Purchases Total Cost	Cost of Goods Sold Quantity	Cost of Goods Sold Unit Cost	Cost of Goods Sold Total Cost	Inventory Quantity	Inventory Unit Cost	Inventory Total Cost
   Jan. 1							fill in the blank 1	fill in the blank 2	fill in the blank 3
   Mar. 18				fill in the blank 4	fill in the blank 5	fill in the blank 6	fill in the blank 7	fill in the blank 8	fill in the blank 9
   May 2	fill in the blank 10	fill in the blank 11	fill in the blank 12				fill in the blank 13	fill in the blank 14	fill in the blank 15
   Aug. 9				fill in the blank 16	fill in the blank 17	fill in the blank 18	fill in the blank 19	fill in the blank 20	fill in the blank 21
   Oct. 20	fill in the blank 22	fill in the blank 23	fill in the blank 24				fill in the blank 25	fill in the blank 26	fill in the blank 27
   Dec. 31	Balances					fill in the blank 28	fill in the blank 29	fill in the blank 30	fill in the blank 31