Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 340 units from the January 30 purchase, 5 units from the January 20 purchase, and 15 units from beginning inventory.

Date	Activities	Units Acquired at Cost						Units sold at Retail
January 1	Beginning inventory	210	units	@	$ 13.50	=	$ 2,835
January 10	Sales							160	units	@	$ 22.50
January 20	Purchase	150	units	@	$ 12.50	=	1,875
January 25	Sales							180	units	@	$ 22.50
January 30	Purchase	340	units	@	$ 12.00	=	4,080
	Totals	700	units				$ 8,790	340	units

Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.)

Weighted Average - Perpetual:

Date

Goods Purchased

Cost of Goods Sold

Inventory Balance

# of units

Cost per unit

# of units sold

Cost per unit

Cost of Goods Sold

# of units

Cost per unit

Inventory Balance

January 1

210

at

$13.50

=

$2,835.00

January 10

160

at

$13.50

=

$2,160.00

50

at

$13.50

=

$675.00

January 20

150

at

$12.50

50

at

$13.50

=

$675.00

150

at

$12.50

=

1,875.00

Average cost January 20

200

at

$2,550.00

January 25

January 30

Totals

$2,160.00