The following transactions occurred for the month of May.

Date			Units	Cost	Total	Sales Price
1-May	Beginning Balance		70	12	$840
2-May	Purchase		80	11	$880
3-May	Purchase		60	14	$840
10-May	Sale		95			$30
15-May	Purchase		45	18	$810
17-May	Sale		60			$30
30-May	Sale		95			$30

Create a perpetual inventory record then calculate the Cost of Goods Sold, Ending inventory, and Gross Profit for the month under Weighted Averages. HINT: Do NOT round the unit cost, meaning leave at 5 decimal places for all calculations. The only time you round is when you enter the numbers into MyOpenMath. Otherwise, ALL calculations should be completed with unrounded numbers. Do round total costs to the nearest cent on each transaction.

	Purchases			Cost of Goods Sold			Inventory on Hand
Dates	Quantity	Unit Cost	Total Cost	Quantity	Unit Cost	Total Cost	Quantity	Unit Cost	Total Cost
May 1
May 2
May 3
May 10
May 15
May 17
May 30

End of the month totals

Cost of Goods Sold	$
Ending Inventory	$
Gross Profit	$