A company reports the following beginning inventory and two purchases for the month of January....
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Accounting
A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 450 units. Ending inventory at January 31 totals 170 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 410 90 120 Unit Cost $ 4.00 4.20 4.30 Required: 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.) Weighted Average - Perpetual: Goods purchased Cost of Goods Sold Inventory Balance Cost per Date # of units Cost per unit # of units sold Cost per Cost of Goods unit Sold # of units Inventory Balance unit January 1 410 a $ 4.00 = $1,640.00 January 9 Average cost January 25 Average cost January 26 Totals
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