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Problem - Beginning inventory, purchases, and sales for 30xT are as follows:
May 1 Inventory 50 units at $80
May 12 Sale 35 units
May 23 Purchase 60 units at $90
May 26 Sale 55 units
Assuming a perpetual inventory system and using the weighted average method, determine the (a) weighted average unit cost after the May 23 purchase.
Assuming a perpetual inventory system and using the weighted average method, determine the (b) cost of goods sold on May 26.
Assuming a perpetual inventory system and using the weighted average method, determine the (c) inventory on May 31.
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