Weighted Average Cost Flow Method Under Perpetual Inventory System

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

Jan. 1	Inventory	4,000 units at $20
Apr. 19	Sale	2,500 units
June 30	Purchase	6,000 units at $24
Sept. 2	Sale	4,500 units
Nov. 15	Purchase	1,000 units at $25

The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of merchandise sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary.