company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 360 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 January 1 ssume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on se weighted average method. lote: Round your per unit costs to 2 decimal places. Date January 9 Average cost January 9 January 25 Average cost January 25 January 26 Units 320 70 100 Goods purchased Number of Cost per units unit Unit Cost $ 3.10 3.30 3.40 Weighted Average- Perpetual: Cost of Goods Sold Number of units sold Cost per Cost of Goods unit Sold Number of units Inventory Balance Cost per unit Inventory Balance
company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 360 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 January 1 ssume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on se weighted average method. lote: Round your per unit costs to 2 decimal places. Date January 9 Average cost January 9 January 25 Average cost January 25 January 26 Units 320 70 100 Goods purchased Number of Cost per units unit Unit Cost $ 3.10 3.30 3.40 Weighted Average- Perpetual: Cost of Goods Sold Number of units sold Cost per Cost of Goods unit Sold Number of units Inventory Balance Cost per unit Inventory Balance
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter6: Inventories
Section: Chapter Questions
Problem 2PB: LIFO perpetual inventory The beginning inventory for Dunne Co. and data on purchases and sales for a...
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![A company reports the following beginning inventory and two purchases for the month of January. On January 26, the
company sells 360 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 on
the weighted average method.
Note: Round your per unit costs to 2 decimal places.
January 91
Average cost January 9
January 25
Average cost January 25
January 20
Units
320
Goods purchased i
Number of Cost per
unit
units
70
100
Unit Cost
$ 3.10
3.30
3.40
Weighted Average- Perpetual:
Cost of Goods Sold
Number
of units
sold
Cost per Cost of Goods
unit
Sold
Number of
units
Inventory Balance
Cost per unit Inventory Balance](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9df4c6b6-831a-466d-b9f9-cc798fa9167e%2F442483fb-eca1-4856-b7bc-3db70b44f409%2Ffovtn6i_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A company reports the following beginning inventory and two purchases for the month of January. On January 26, the
company sells 360 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 on
the weighted average method.
Note: Round your per unit costs to 2 decimal places.
January 91
Average cost January 9
January 25
Average cost January 25
January 20
Units
320
Goods purchased i
Number of Cost per
unit
units
70
100
Unit Cost
$ 3.10
3.30
3.40
Weighted Average- Perpetual:
Cost of Goods Sold
Number
of units
sold
Cost per Cost of Goods
unit
Sold
Number of
units
Inventory Balance
Cost per unit Inventory Balance
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