Question
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 370 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 330 80 110 Unit Cost $ 3.20 3.40 3.50 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 # of units Cost per unit Available for Sale # of units sold Cost of Goods Sold Average Cost per Unit Ending Inventory Cost of Goods Sold # of units in ending inventory Average Cost per unit Ending Inventory Beginning inventory
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