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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 month
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 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 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. Weighted Average Perpetual Date Goods purchased # of units Cost per unit Cost of Goods Sold Inventory Balance #of units sold Cost per unit Cost of Goods # of units Sold Cost per unit Inventory Balance January 1 250 at $ 2.30 $ 575.00 60 at $ 2.50 January 9 Average cost January 9 100 at $2.64 January 25 250 at 60 at $ 310 at $ 2.30- $ 2.50- 575.00 150.00 $ 725.00 310 at Average cost January 251 100 at $ 410 at $ 264 264.00 2.40 $ 264.00 January 26 280 at 130 Total January 26
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