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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

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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 440 units. Ending Inventory at January 31 totals 170 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 400 90 120 Unit Cost $ 3.90 4.10 4.20 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.) Goods purchased Weighted Average - Perpetual: Cost of Goods Sold # of Cost per Cost of Goods units unit sold Sold Inventory Balance Date of units Cost per unit #of units Cost per unit Inventory Balance January 1 January Average cost January 9 January 25 Average cost January 25 January 28 Total January 26

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