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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 of
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 320 80 100 Unit Cost $ 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 weighted average method. (Round per unit costs to 2 decimal places.) Weighted average - Periodic Goods Available for Sale Cost of Goods Sold Cost per Average Cost of # of units unit Cost per Available for sold Sale Goods Sold Unit Cost of Goods # of units Ending Invento # of units Average in ending Cost per inventory unit Beginning inventory Purchases: January 9 January 25 Total Ending Inventory # of units Average Ending in ending Cost per inventory Inventory unit
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