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  3. a company reports the following beginning inventor

A company reports the following beginning inventory and two purchases for the month of January....

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Accounting

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A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 290 units. Ending Inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 260 60 100 Unit Cost $ 2.40 2.60 2.74 Required: 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 3 decimal places. Amounts to be deducted should be indicated with a minus sign.) Periodic Weighted Average Cost of Goods Sold Inventory on hand # of units Inventory unit Value Cost per # of units sold Avg.Cost per unit Cost of Goods Sold $ 0 0 0 Beginning Inventory Purchase - January 9 Purchase - January 25 Available for Sale January Sales Total 0 $ 0 0 S 0

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