[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.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![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 350 units. Ending inventory at January 31 totals 150 units.
Beginning inventory on January 1
Purchase on January 9
Purchase on January 25
Date
Goods purchased
Cost per
unit
Units
320
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.)
# of units
80
100
Unit Cost
$ 3.90
4.10
4.24
# of
units
sold
Weighted Average - Perpetual:
Cost of Goods Sold
Cost per Cost of Goods
unit
Sold
# of units
Inventory Balance
Cost per unit Inventory Balance](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F117dd759-926b-455c-8e67-9aa5670a6b47%2Fca6761a4-1158-4a3a-b2f5-64336cf2c85b%2Fj44408_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 350 units. Ending inventory at January 31 totals 150 units.
Beginning inventory on January 1
Purchase on January 9
Purchase on January 25
Date
Goods purchased
Cost per
unit
Units
320
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.)
# of units
80
100
Unit Cost
$ 3.90
4.10
4.24
# of
units
sold
Weighted Average - Perpetual:
Cost of Goods Sold
Cost per Cost of Goods
unit
Sold
# of units
Inventory Balance
Cost per unit Inventory Balance
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