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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

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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 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round your per unit costs to 2 decimal places.) Weighted Average - Perpetual: Goods purchased # of Date units unit Inventory Balance Cost per Cost of Goods Sold of units Cost per Cost of Goods unit sold Sold Cost per # of units unit Inventory Balance January 1 320 $ 3.00 = $ 960.00 January 9 Average cost $ 0.00 January 25 Average cost January 26 Totals

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