Chapter 6, Problem 6QS

To determine

Introduction:

Perpetual Inventory System: The perpetual inventory system records and updates the inventory after each and every transaction. The inventory balance is updated after each transaction and it is kept up to date at every time.

Weighted Average method: Under this method, the cost per unit of the inventory is calculated as weighted average cost per unit and the cost of goods sold and inventory is calculated with the help of weighted average cost per unit.

To Calculate: The Costs assigned to the ending inventory using perpetual inventory Weighted Average method