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Need help fixing what is in red A company reports the following beginning inventory and two purchases for the month of January. On January 26,
Need help fixing what is in red
A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 280 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 250 60 100 Unit Cost $ 2.30 2.50 2.64 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.) X Answer is not complete. Weighted Average - Perpetual: Goods purchased Cost # of Date per units unit January 1 Cost of Goods Sold Cost # of units Cost of sold per Goods Sold unit Inventory Balance Cost Inventory per Balance unit # of units 250 @ $ 2.30 $ 575.00 January 9 60 $ 2.50 310 X @ $ 2.30 = $ 713.00 410 X @ $ 2.50 1,025.00 $ 1,738.00 Average cost 720 @ $ 2.41 x January 25 100 > @ $ 2.64 > 410 X @ $ 2.41 $ 988.10 130 X @ $ 2.64 343.20 Average cost 540 @ $ 1,331.30 280 @ $ 2.41 $674.80 @ January 26 Totals $ 313.30 $ 674.80Step by Step Solution
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