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! Required information Use the following information for the Quick Study below. (Algo) (5-7) [The following information applies to the questions displayed below.] A
! Required information Use the following information for the Quick Study below. (Algo) (5-7) [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 Units 320 Unit Cost $ 3.50 Purchase on January 9 Purchase on January 25 80 100 3.70 3.84 QS 5-7 (Algo) Perpetual: Inventory costing with weighted average LO P1 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round your per unit costs to 2 decimal places.) Weighted Average - Perpetual: Cost of Goods Sold January 1 January 9 Date # of units Goods purchased Cost per unit Inventory Balance # of units sold Cost per Cost of Goods # of units Cost per unit Inventory Balance unit Sold Average cost January 9 January 25 Average cost January 25 January 26 Total January 26
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