A company reports the following beginning inventory and 2 purchases for the month of January. On January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units     Units Unit Cost Beginning Inventory 320 units $10.00 Purchases on January 9 80 5.20 Purchases on January 25 100 5.54   Required Assume the perpetual inventory system is used. Determine the costs assigned to the ending inventory when costs are assigned based on a. The weighted average method                   ( Round per unit costs and inventory amounts to cents)

  1. A company reports the following beginning inventory and 2 purchases for the month of January.

On January 26, the company sells 350 units.

Ending inventory at January 31 totals 150 units

 

 

Units

Unit Cost

Beginning Inventory

320 units

$10.00

Purchases on January 9

80

5.20

Purchases on January 25

100

5.54

 

Required

Assume the perpetual inventory system is used. Determine the costs assigned to the ending inventory when costs are assigned based on

a. The weighted average method

                  ( Round per unit costs and inventory amounts to cents)

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