Required Information The Following Information Applies To The Questions Displayed Below A Company Reports The Followi 1 (42.2 KiB) Viewed 5 times
Required information [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 340 units. Ending inventory at January 31 totals 140 units. Total Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Beginning Inventory Purchases: January 9 January 25 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. (Round your per unit costs to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Available for Sale # of units Cost per unit 310 $ 70 100 480 2.90 3.10 3.24 $ $ 899 Units 310 70 100 217 324 1,440 Periodic FIFO Cost of Goods Sold # of units sold Unit Cost $ 2.90 3.10 3.24 340 $ 340 Cost per unit Cost of Goods Sold 986 2.90 $ $ 986 Inventory Balance Cost per unit # of units in ending inventory 310 310 Ending Inventory $ 0
Required information [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 340 units. Ending inventory at January 31 totals 140 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Total Beginning inventory Purchases: 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 2 decimal places.) January 9 January 25 Goods Available for Sale Units 310 70 100 # of units Cost per unit Unit Cost $ 2.90 3.10 3.24 Weighted average - Periodic Cost of Goods Available for Sale Cost of Goods Sold # of units sold Average Cost per Unit Cost of Goods Sold Ending Inventory of units in ending Average Cost inventory per unit Ending Inventory
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