Question: 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
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 440 units. Ending inventory at January 31 totals 170 units. Beginning inventory on January Purchase on January 9, Purchase on January 25 Units Unit Cost 400 $ 3.90 90 4.10 120 4.20 the weighted average method. (Round your per unit costs to 2 decimal places.) em is used. Determine the costs assigned to ending inventory when costs are assigned based on Weighted Average Perpetual Cost of Goods Sold Inventory Balance Goods purchased Date # of units Cost per unit # of units Cost per unit sold January 1 January 9 Average cost January 9 January 25 Average cost January 25 January 26 Total January 26 Cost of Goods Sold # of units Cost per unit Inventory Balance 0.00
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
