Please do not give solution in image format thanku 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, thecompany sells 350 units. Ending inventory at January 31 totals 150 units.Beginning inventory on January 1Purchase on January 9Purchase on January 25DateGoods purchasedCost perunitUnits320Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based onthe weighted average method. (Round your per unit costs to 2 decimal places.)# of units80100Unit Cost$ 3.904.104.24# ofunitssoldWeighted Average - Perpetual:Cost of Goods SoldCost per Cost of GoodsunitSold# of unitsInventory BalanceCost per unit Inventory Balance

Introduction:- Weighted average method is one of the inventory valuation method. which is used to…

[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 350 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 320 80 100 Unit Cost $ 3.90 4.10 4.24 ume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on weighted average method. (Round your per unit costs to 2 decimal places.)

[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 350 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 320 80 100 Unit Cost $ 3.90 4.10 4.24 ume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on weighted average method. (Round your per unit costs to 2 decimal places.)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 50E: Inventory Costing Methods Crandall Distributors uses a perpetual inventory system and has the...

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