Required information. [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 380 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 340 80 110 Unit Cost $ 3.30 3.50 3.60 assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based om the weighted average method. Hote: Round per unit costs to 2 decimal places.
Required information. [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 380 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 340 80 110 Unit Cost $ 3.30 3.50 3.60 assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based om the weighted average method. Hote: Round per unit costs to 2 decimal places.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question
Subject: acounting
![Required information
[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 380 units. Ending inventory at January 31 totals 150 units.
Beginning inventory on January 1
Purchase on January 9
Purchase on January 25
Total
Beginning inventory
Purchases:
January 9
January 25
Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on
the weighted average method.
Note: Round per unit costs to 2 decimal places.
Goods Available for Sale
Number
of units
340 $
80 $
S
110
530
Cost of Goods
Cost per unit Available for
Sale
3.30 $
Units
3.50
3.60
340
80
110
$
Weighted average - Periodic
Unit Cost
$ 3.30
3.50
3.60
1,122
280
396
1,798
Number
of units
sold
Cost of Goods Sold
380
Average
Cost per
Unit
Cost of
Goods Sold
$ 0.00
Number of
units in
ending
inventory
Ending Inventory
Average Cost
per unit
150
Ending
Inventory.
$ 0.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7fe5a73-45e4-4166-8ba1-50e355550dfc%2F32649bed-aecf-4ad5-a6ac-ca3eef98cbc1%2Fykskp8g_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[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 380 units. Ending inventory at January 31 totals 150 units.
Beginning inventory on January 1
Purchase on January 9
Purchase on January 25
Total
Beginning inventory
Purchases:
January 9
January 25
Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on
the weighted average method.
Note: Round per unit costs to 2 decimal places.
Goods Available for Sale
Number
of units
340 $
80 $
S
110
530
Cost of Goods
Cost per unit Available for
Sale
3.30 $
Units
3.50
3.60
340
80
110
$
Weighted average - Periodic
Unit Cost
$ 3.30
3.50
3.60
1,122
280
396
1,798
Number
of units
sold
Cost of Goods Sold
380
Average
Cost per
Unit
Cost of
Goods Sold
$ 0.00
Number of
units in
ending
inventory
Ending Inventory
Average Cost
per unit
150
Ending
Inventory.
$ 0.00
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