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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
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 Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 320 88 180 Unit Cost $ 3.80 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 welghted average method. (Round your per unit costs to 2 decimal places.) Cost of Goods Sold Inventory Balance Weighted Average - Perpetual: Goods purchased Date # of Cost per units #of units sold Cost per Cost per unit Cost of Goods Sold # of units unit Inventory unit Balance $ 3.00 = $ 960.00 320 @ January 1 January 9 Average cost January 25 Average cost January 26 Totals
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