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QS 6-6 Perpetual: Inventory costing with weighted average LO P1 A company reports the following beginning inventory and two purchases for the month of January.
QS 6-6 Perpetual: Inventory costing with weighted average LO P1 A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 260 units. Ending inventory at January 31 totals 120 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 230 50 100 Unit Cost $ 2.10 2.30 2.44 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 Date # of Cost per units Cost of Goods Sold # of Cost per Cost of Goods units Sold # of units Cost per unit Inventory Balance unit sold unit January 1 230 @ $ 2.10 = $ 483.00 January 9
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