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The following information was available from the inventory records of Vaughn Manufacturing for January: Units Unit Cost Total Cost Balance at January 1 10000 $9.75
The following information was available from the inventory records of Vaughn Manufacturing for January:
| Units | Unit Cost | Total Cost | ||||||||||
| Balance at January 1 | 10000 | $9.75 | $97500 | |||||||||
| Purchases: | ||||||||||||
| January 6 | 5000 | 10.10 | 50500 | |||||||||
| January 26 | 7000 | 10.60 | 74200 | |||||||||
| Sales | ||||||||||||
| January 7 | (7000) | |||||||||||
| January 31 | (12000 | ) | ||||||||||
| Balance at January 31 | 3000 | |||||||||||
Assuming that Vaughn does not maintain perpetual inventory records, what should be the inventory at January 31, using the weighted-average inventory method, rounded to the nearest dollar?
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