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Please help with the last two red boxes! Required information use the following information for the Quick Study below. (Algo) (5-7) [The following information applies
Please help with the last two red boxes!
Required information use the following information for the Quick Study below. (Algo) (5-7) [The following information applies to the questions displayed below.] A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 340 units. Ending inventory at January 31 totals 140 units. Beginning inventory on January 1 Purchase on January g Purchase on January 25 Units 310 l Unit Cost $ 2.90 3.10 3.24 QS 6-7 (Algo) Perpetual: Inventory costing with weighted average LO P1 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. Note: Round your per unit costs to 2 decimal places. Answer is complete but not entirely correct. ighted : Goods purchased Cost of Goods Sold Date January 1 January 9 Average cost January 9 January 25 Average cost January 25 January 26 Total January 26 # of units Cost per # of units sold 70 100 e at at $ 3.10 e $ 324 e 340 e at Cost per unit 2.900 Cost of Goods Sold 986.00 986.00 # of units 310 e 310 e 70 e 380 380 e 100 480 140 e at at at at at at at at Inventory Balance Cost per unit 2.90 e 2.90 3.10 2.93 e 2.93 324 2.99 e 2.900 = Inventory Balance 899.00 899.00 217.00 1,116.00 1,113.40 324.00 406.00 406.00
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