Prepare inventory records using the Weighted Average method: Riverside Inc. uses a perpetual inventory system...
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Accounting
Prepare inventory records using the Weighted Average method: Riverside Inc. uses a perpetual inventory system and reports the following transactions for the month of July
July1 Beginning inventory 12 units Cost/Price $100.00
July 4 Purchase 8 units Cost/Price 103.00
July 9 Purchase 5 units Cost/Price 104.00
July17 Sale 21 units Cost/Price 249.99
July 21 Purchase 4 units Cost/Price 106.00
July 31 Sale 6 units Cost/Price 249.99
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