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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 330 units. Ending inventory at January 31 totals 140 units. Beginning inventory on January 1 Units 300 Unit Cost $ 2.80 Purchase on January 9 Purchase on January 25 70 100 3.00 3.14 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round per unit costs to 2 decimal places.) Weighted average - Periodic Goods Available for Sale Cost of Goods Cost of Goods Sold Ending Inventory # of units Cost per unit Available for # of units sold Sale Average Cost per Unit Cost of Goods Sold # of units in ending inventory Average Ending Cost per unit Inventory Beginning inventory Purchases: January 9 January 25 Total
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