A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 280 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 January 1 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based the weighted average method. (Round your per unit costs to 2 decimal places.) January 9 Date Average cost January 9 January 25 Average cost January 25 January 26 Total January 26 Goods purchased Cost per unit Units 250 60 100 # of units Unit Cost $ 2.30 2.50 2.64 Weighted Average - Perpetual: Cost of Goods Sold # of units sold Cost per Cost of Goods unit Sold # of units Inventory Balance Cost per unit Inventory Balance $ 0.00

A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 280 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 January 1 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based the weighted average method. (Round your per unit costs to 2 decimal places.) January 9 Date Average cost January 9 January 25 Average cost January 25 January 26 Total January 26 Goods purchased Cost per unit Units 250 60 100 # of units Unit Cost $ 2.30 2.50 2.64 Weighted Average - Perpetual: Cost of Goods Sold # of units sold Cost per Cost of Goods unit Sold # of units Inventory Balance Cost per unit Inventory Balance $ 0.00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Please make a weighted average- perpetual chart

A company reports the following beginning inventory and two purchases for the month of January. On January 26, the
company sells 280 units. Ending inventory at January 31 totals 130 units.
Beginning inventory on January 1
Purchase on January 9
Purchase on January 25
January 1
Date
Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based
the weighted average method. (Round your per unit costs to 2 decimal places.)
January 9
Average cost January 9
January 25
Average cost January 25
January 26
Total January 26
Goods purchased
Cost per
unit
Units
250
60
100
# of units
Saved
# of
units
sold
Unit Cost
$ 2.30
2.50
2.64
Weighted Average - Perpetual:
Cost of Goods Sold
Cost per
unit
Cost of Goods
Sold
# of units
Inventory Balance
Cost per unit Inventory Balance
$
0.00

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