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 $15,000$ units at $$60\mathrm{.}00$

Mar. $18$ Sale $12,000$ units

May $2$ Purchase $27,000$ units at $$62\mathrm{.}00$

Aug. $9$ Sale $22,500$ units

Oct. $20$ Purchase $10,500$ units at $$64\mathrm{.}20$

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.

Perpetual Inventory Account

Weighted Average Cost Flow Method

Purchases Cost of Merchandise Sold Inventory

Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost 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 $31$