Question: Required information Use the following information for the Quick Study below. (Algo) (5-7) [The following information applies to the questions displayed below) A company reports

Required information Use the following information for the Quick Study below. (Algo) (5-7) [The following information applies to the questions displayed below) 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 QS 6-7 (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 the weighted average method. (Round your per unit costs to 2 decimal places.) Goods purchased Weighted Average: Perpetual Cost of Goods Sold of Cost per Cost of Goods units sold unit Sold Date Cost per Inventory Balance ca per unit Inventory Balance # of units unit W of units January 1 January 9 Average cost January Son 95 QS 6-7 (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 the weighted average method. (Round your per unit costs to 2 decimal places.) Goods purchased Cost per # of units unit Weighted Average - Perpetual Cost of Goods Sold # of Cost per units Cost of Goods unit sold Sold Inventory Balance Date of units Cost per unit Inventory Balance January 1 January 9 Average cost January 9 January 25 Average cost January 25 January 28 Total January 26
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
