ABC starts a merchandising business on December 1 and enters into the following three inventory purchases:

Purchases on December 7 20 units @ $14.00 cost
Purchases on December 14 36 units @ $21.00 cost
Purchases on December 21 30 units @ $25.00 cost

ABC sells 28 units for $50 each on December 15. ABC uses a perpetual inventory system. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method.

Use the information below to answer the following question. the boxwood company sells blankets for $60 each. the following was taken from the inventory records during may. the company had no beginning inventory on may 1. date blankets units cost may 3 purchase 5 $20 10 sale 3 17 purchase 10 $24 20 sale 6 23 sale 3 30 purchase 10 $30 assuming that the company uses the perpetual inventory system, determine the gross profit for the month of may using the lifo cost method.