Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please help! a company reports the following

please help! A company reports the following beginning inventory and...

70.2K

Verified Solution

Question

Accounting

please help!
image
A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 270 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 240 60 100 Unit Cost $ 2.20 2.40 2.54 S 5-7 (Algo) Perpetual: Inventory costing with weighted average LO P1 assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on he weighted average method. (Round your per unit costs to 2 decimal places.) Inventory Balance Weighted Average - Perpetual Cost of Goods Sold w of Cost per Cost of Goods units Sold unit sold Goods purchased Cost per of units unit Rate of units Cost per unit inventory Balance January 1 240 60 $ 2.40 240 January 9 60 at 5 2.40 144.00 144.00 300 at $ Average cost January 9 s at 100 $ 254 January 25 al 254 - Average cost January 25 270 January 26 Total January 26

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

3 1 1 2 12 20 2x 2x

Algebra
Q

Candy is a successful small business owner who has $250,000 to invest in a new equipment...

Finance
Q

At 1 atm, how much energy is required to heat 81.0 g of H2O(s) at –24.0...

Chemistry
Q

A body is simple harmonic motion with time period half second T 0 5 s...

Physics
Q

3700tThe system of the population of a culture of tumor cells is given by p(t)...

Basic Math
Q

h 0 8 7 2 7 6 4 N 6 8 10 6 8 6...

Calculus
Q

Milano Pizza is a small neighborhood pizzeria that has a small area for in-store dining...

Accounting
Q

An adjustment for a customer's NSF check is included in a company's bank reconciliation as...

Accounting
Q

Magpie Creations has a fixed asset turnover of 2.30 times. The ratio indicates that: ...

Accounting
Q

Wilson Owen manages administrative operations for a major medical center in Houston, Texas. In response...

Accounting
Q

Can you show and explain the question? DL Trucking has a cost of equity of...

Finance
Q

3. Forward Rates. The one-year spot rate (r) is 4.00%, the two-year spot rate (r2)...

Finance