Question: 4-6 1 Saved Help Save & Exit Sub A company reports the following beginning inventory and two purchases for the month of January. On

4-6 1 Saved Help Save & Exit Sub A company reports thefollowing beginning inventory and two purchases for the month of January. On

4-6 1 Saved Help Save & Exit Sub A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 280 units. Ending Inventory at January 31 totals 130 units. Units Beginning inventory on January 1 250 Unit Cost $2.30 Purchase on January 9 Purchase on January 25 68 100 2.50 2.64 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 of Date units Cost per unit # of units sold Cost per Cost of Goods unit Sold # of units Inventory Balance Cost per unit Inventory Balance January 1 250 @ $ 2.30- $575.00 January 9 600 $ 2.50 250 $ 2.30- $575.00 60 $ 2.50- 150.00 Average cost 310 $4.80 $ 725.00

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!