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May 1

Beginning merchandise inventory

30

tires @

$52

each

11

Purchase

10

tires @

$64

each

23

Sale

20

tires @

$75

each

26

Purchase

20

tires @

$75

each

29

Sale

22

tires @

$75

each

Begin by computing the cost of goods sold and cost of ending merchandise inventory using the? weighted-average inventory costing method. Enter the transactions in chronological? order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual? record, calculate the quantity and total cost of merchandise inventory? purchased, sold, and on hand at the end of the period.

	Purchases			Cost of Goods Sold			Inventory on Hand
		Unit	Total		Unit	Total		Unit	Total
Date	Quantity	Cost	Cost	Quantity	Cost	Cost	Quantity	Cost	Cost
May 1
11
23
26
29
Totals

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