A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 370 units. Ending inventory at January 31 totals 150 units.

	Units	Unit Cost
Beginning inventory on January 1	330	$	3.20
Purchase on January 9	80		3.40
Purchase on January 25	110		3.50

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.)

A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 370 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 330 80 110 Unit Cost $ 3.20 3.40 3.50 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 Cost of Goods Sold Inventory Balance # of Date # of units Cost per unit units Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance sold January 1 330 @ $ 3.20 = $1,056.00 January 9 $ 3.20 330 80 Average cost 410 $ 0.00 January 25 330 @ $ 3.20 330 @ $ 3.20 = 256.00 80 @ 410 @ Average cost $ 256.00 3301 @ $ 3.20 = 40 @ $ 3.40= $ 136.00 January 26 Totals $1,056.00 $1,056.00 $ 136.00