Beginning inventory, purchases, and sales for H76 are as follows:
July | 1 | Inventory | 300 units at $120 |
12 | Sale | 210 units | |
23 | Purchase | 360 units at $135 | |
26 | Sale | 330 units |
Assuming a perpetual inventory system and using the weighted average method, determine (a) the weighted average unit cost after the July 23 purchase, (b) the cost of the merchandise sold on July 26, and (c) the inventory on July 31.
ANSWER:--
GIVEN THAT:--
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