The following information was available from the inventory records of Vaughn Manufacturing for January: Balance at January 1 Purchases: January 6 January 26 Sales January 7 January 31 Balance at January 31 Units $46692. $46258. $47360. $46154. 8800 6200 8000 (7600) (10900 ) 4500 Unit Cost $9.80 10.32 10.71 Total Cost $86240 63984 85680 Assuming that Vaughn maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method, rounded to the nearest dollar? (Round average cost per unit to 3 decimal places, e.g. 1.485.)
The following information was available from the inventory records of Vaughn Manufacturing for January: Balance at January 1 Purchases: January 6 January 26 Sales January 7 January 31 Balance at January 31 Units $46692. $46258. $47360. $46154. 8800 6200 8000 (7600) (10900 ) 4500 Unit Cost $9.80 10.32 10.71 Total Cost $86240 63984 85680 Assuming that Vaughn maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method, rounded to the nearest dollar? (Round average cost per unit to 3 decimal places, e.g. 1.485.)
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:The following information was available from the inventory records of Vaughn Manufacturing for January:
Balance at January 1
Purchases:
January 6
January 26
Sales
January 7
January 31
Balance at January 31
Units
8800
$46692.
$46258.
$47360.
$46154.
6200
8000
(7600)
(10900 )
4500
Unit Cost
$9.80
10.32
10.71
Total Cost
$86240
63984
85680
Assuming that Vaughn maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average
inventory method, rounded to the nearest dollar? (Round average cost per unit to 3 decimal places, e.g. 1.485.)
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