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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. Units Unit Cost Beginning inventory on January 1 Purchase on January 9 3.20 Purchase on January 25 $ 3.0 320 80 100 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.) Answer is complete but not entirely correct. Weighted Average Perpetual: Goods purchased #of Cost Date per units unit January 1 of Goods Sold Cost Cost of por Goods Sold # of units sold Inventory Balance Cost Nof units per unit 320 $ 3.00 Inventory Balance unit $ 960.00 January 19 80 $ 3,20 320 $ 950.00 $ 3.00 $ 3.20 . @ BO Average cost 400 $ 3.00 256.00 $ 1,216.00 $ 1,200.00 334.00 January 25 100 $ 3.34 400 100 5 3.00 @ $ 3.34 $3100 Average cost 500 1,534 00 January 350 $ 3.10 150 e $ 3.10 $405.00

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