Perpetual inventory using weighted averageBeginning inventory, purchases, and sales for Meta-B1 are as follows: July1 Inventory 100 units at $400 12 Sale 70 units 23 Purchase 120 units at $450 26 Sale 110 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.

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Perpetual inventory using weighted average
Beginning inventory, purchases, and sales for Meta-B1 are as follows:

July1 Inventory 100 units at $400
12 Sale 70 units
23 Purchase 120 units at $450
26 Sale 110 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.

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