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! Required information [The following information applies to the questions displayed below.] A company reports the following beginning inventory and two purchases for the
! Required information [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 350 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units Unit Cost 320 80 100 $ 3.00 3.20 3.34 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Note: Round your per unit costs to 2 decimal places. Beginning Inventory Purchases: January 9 January 25 Total Cost of Goods Available for Sale Periodic LIFO Cost of Goods Sold Inventory Balance Number of Cost of Goods Number of units Cost per Number of Cost per Available for unit units sold unit Cost of Goods Sold units in Cost per ending unit Ending Inventory Sale inventory $ 0 320 0 0 0 $ 0 0 0 320 $ 0 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. Note: Round per unit costs to 2 decimal places. Beginning inventory Purchases: January 9 January 25 Total Weighted average - Periodic Goods Available for Sale Cost of Goods Sold Ending Inventory Number of Cost of Goods Number Number of units Cost per unit Available for Sale of units sold Average Cost per Unit Cost of Goods Sold units in ending inventory Average Cost per unit Ending Inventory 0 $ 0 $ 0 $ 0
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