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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 260 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 260 units. Ending inventory at January 31 totals 120 units. Units Unit Cost 230 $2.10 Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 50 100 2.30 2.44 Required: 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 3 decimal places. Amounts to be deducted should be indicated with a minus sign.) Periodic Weighted Average Inventory on hand Cost of Goods Solo of units Cost per Inventory Value # of units sold unit Cost of Goods Sold Cost per unit S Beginning Inventory Purchase - January 9 Purchase - January 25 Available for Sale January Sales Total 230 50 s 100 $ 380 2.300 2.440 0 115 244 359 0 359 380 $ 0 $ 0

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