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 Unit Cost 320 $3.00 80 3.20 100 3.34 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 2 decimal places. Amounts to be deducted should be Indicated with a minus sign.) Periodic Weighted Average Answer is not complete. Inventory on hand Cost of Goods Sold #of Cost of # of Cost per Inventory Avg. Cost units Goods units unit Value sold per unit Sold 320 3.00 $ 960 80$ 3.20 256 100 3.34 334 500 5 3.10 1,550 0 Beginning Inventory Purchase - January 9 Purchase - January 25 Available for Sale January Sales Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units Unit Cost 320 $3.00 80 3.20 100 3.34 Required: Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are based on the weighted average method. (Round per unit costs to 2 decimal places. Amounts to be deducted s indicated with a minus sign.) Periodic Weighted Average Inventory on hand # of units Inventory unit Value Cost per Cost of Goods Sold # of units Avg.Cost per Cost of sold unit Goods Sold 320 $ Beginning Inventory Purchase - January 9 Purchase - January 25 Available for Sale January Sales Total 80 $ 1007 s 500 $ 3.00 $ 3.20 3.34 3.10 960 256 334 1.550 0 500 $ 3.10$ 1,550 0 $ 0