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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

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 4,000 units at $50
Apr. 19 Sale 2,500 units
June 30 Purchase 4,500 units at $54
Sept. 2 Sale 5,000 units
Nov. 15 Purchase 2,000 units at $56
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.
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