A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 320 80 100 Unit Cost $ 3.00 3.20 3.34 QS 5-7 (Static) Periodic: Inventory costing with weighted average LO P1 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round per unit costs to 2 decimal places. Amounts to be deducted should be indicated with a minus sign.) Periodic Weighted Average Inventory on hand Cost of Goods Sold #of units Cost per Inventory Value # of units Avg. Cost per unit Cost of Goods Sold unit sold Beginning Inventory Purchase - January 9 Purchase - January 25 Available for Sale January Sales Total 320 $ 80 $ 100 $ 500 $ (350) $ 160 $ 3.10 $ 3.10 3.10 3.10 3.10 3.10 $ 992 248 310 1,550 (1,085) 465 3.10 350 $ 350 1,085 1,085 $