[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 300 units. Ending inventory at January 31 totals 130 units. Units Unit Cost $ 2.50 Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 270 60 2.70 100 2.84 ume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs
[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 300 units. Ending inventory at January 31 totals 130 units. Units Unit Cost $ 2.50 Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 270 60 2.70 100 2.84 ume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs
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 300 units. Ending inventory at January 31 totals
130 units.
Units
Unit Cost
$ 2.50
Beginning inventory on January 1
Purchase on January 9
Purchase on January 25
270
60
2.70
100
2.84
Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs
are assigned based on the weighted average method. (Round per unit costs to 2 decimal places.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcf26b3b7-1935-451b-8a66-286d211649bf%2F41e461c7-7082-4c65-86cd-cbb6225aaffd%2Fbpu5hwh_processed.png&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 300 units. Ending inventory at January 31 totals
130 units.
Units
Unit Cost
$ 2.50
Beginning inventory on January 1
Purchase on January 9
Purchase on January 25
270
60
2.70
100
2.84
Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs
are assigned based on the weighted average method. (Round per unit costs to 2 decimal places.)
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