A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 360 units. Ending inventory at January 31 totals 130 units.

	Units	Unit Cost
Beginning inventory on January 1	320	$	3.10
Purchase on January 9	70		3.30
Purchase on January 25	100		3.40

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.)

Inventory Balance Weighted Average - Perpetual: Goods purchased Cost of Goods Sold # of # of Date Cost pertnite Cost per Cost of Goods units unit sold unit Sold January 1 # of units January 9 70 @ $ 3.30 Cost per Inventory unit Balance $ 3.10 = $ 992.00 $ 3.10 = $ 992.00 $ 3.30 = 231.00 $ 3.14 $1,223.00 $ 3.14 = $1,224.60 $ 3.40 = 340.00 $ 3.19 $1,564.60 320 @ 320 @ 70 @ 390 @ 390 @ 100@ 490 @ Average cost January 25 100 @ $ 3.40 Average cost 360 @ January 26 Totals