You are given the following information about Silk Company's inventory for the month of April.

Purchase

Sales

Date

Units

Cost per unit $

Date

Units

April 1

400

4.00

April 2

300

April 10

1,300

4.10

April 11

1,000

April 25

1,200

4.50

April 29

1,400

April 27

600

4.75

Instructions: Silk uses weighted moving average perpetual. (a) Calculate the cost of ending inventory and cost of goods sold, (Note:Round the weighted average cost per unit to two decimal places.). Show all relevant calculations.

(b). What will be the journal entry for the sale on 29 April if the sales price per unit is $7.5? The sales were for cash.