Homework answers / question archive / Periodic: Inventory costing with weighted average LO P3 A company reports the following beginning inventory and two purchases for the month of January

Periodic: Inventory costing with weighted average LO P3 A company reports the following beginning inventory and two purchases for the month of January

Business

Share With

Periodic: Inventory costing with weighted average LO P3 A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 260 units. Ending inventory at January 31 totals 120 units. Units Unit Cost Beginning inventory on January 1 $ 2.10 Purchase on January 9 50 2.30 Purchase on January 25 100 2.44 230 243 Required: Assume the periodic inventory system is used. Determine the costs assigned to ending Inventory when costs are assigned based on the weighted average method. (Round per unit costs to 3 decimal places. Amounts to be deducted should be indicated with a minus sign.) Periodic Weighted Average Inventory on hand Coat of Goods Sold of units sold Avg.Cost per unit Cost of Goods Sold Beginning Inventory Purchase - January 9 Purchase - January 25 Available for Sale January Sales Total Cost per # of units Inventory unit Value 230$ 2100 $ 483 50 s 2.300 115 100 s 2.440 244 380 842 O 380 $ 542 0