QS 6-6 Perpetual: Inventory costing with welghted average LO P1 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 Durchase on January 9 Purchase on January 25 Unita 250 60 100 Unit Cout. $ 2.30 2.50 2.64 Required: Assume the perpetunt 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.) Weighted Average - Perpetual Good purchased Dale Wor units Cost per Cost of Goods Sold #of Cost per Cost of units unit sold Goods Sold Inventory Balance Cost per of units Inventory unit Balance unit January 1 2501 $ 230 $ 575.00 January 9 coels 2.50 25010 Average cost $ 230 800 $ 2.50 3100 $ 234 $575.00 150.00 5 725.00 January 25 1001 as 2.64 Average cost 3100 $ 2.34 100ls 2.84 4101@ls 2.41 $ 725.40 284.00 $ 989.40 January 28 2801 Total QS 6-7A Periodic: Inventory costing with FIFO LO P3 A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 420 units. Ending inventory at January 31 totals 170 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 380 90 120 Unit Cost $ 3.70 3.90 4.00 Required: Assume the periodic Inventory system is used. Determine the costs assigned to ending Inventory when costs are assigned based on the FIFO method. Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Cost per # of units sold Cost per # of Cost of Goods units unit Available for Sale 3805 3.70 5 1.406 Inventary Balance w of unita in ending Ending unit Inventory Inventory Cost of Goods Sold Cost per unit Beg. Inventory Purchases January 9 January 25 Total 90 120 590 3.90 4.00 351 480 2.237 on 0 $ 0 0 5 0 Prev 1 of 14 !!! Next > Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below) Hemming Co. reported the following current year purchases and is for is only product UNIB Site inventory 105 $11.8 -3 2.0 Suit # 1. - 10.5414 6.01 11 Bales By Purch 445 # 2 - 350.41. 9.TO Ort.se Dr. Purchase To unita Exercise 6-9A Periodic Inventory costing system LO P3 Required Hummingsperiodic Inventory system Determine the costs assigned to ending inventory and to cost of goods sold using Determine the coassigned to ending inventary and to cost of goodsad using LFO 14 Compute the grass margin forent method FTO CA Com of God e for Cesta Bot Eng of Cust Costa sold Com Dadoss in riding Endine nerary pernely 245 1 2.2+ Meggy 3503 2. 120 ES 55 224 4430 3.700 2.69 2.321 wy Doctor 95 28 15 145 S 60 3 25 5 540 1 UFO Cate Cost Cor de Afar Sale Coop Bowentary Cost sound Cost Ending Good Intory Inry 2 ST105 push 116 1 10 5 13.00 LIFE
