Question

[The following information applies to the questions displayed below.] A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 350 units. 150 units remain in ending inventory at January 31. Units Unit Cost Beginning inventory on January 1 320 $ 3.00 Purchase on January 9 80 3.20 Purchase on January 25 100 3.34

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 decimals. Amounts to be deducted should be indicated with a minus sign.)

Periodic Weighted Average	Inventory on hand			Cost of Goods Sold
	# of units	Cost per unit	Inventory Value	# of units sold	Avg.Cost per unit	Cost of Goods Sold
Beginning Inventory			$0
Purchase - January 9			0
Purchase - January 25			0
Available for Sale
January Sales			0
Total	0		$0	0		$0

Answer 1

Answer:

Weighted average cost per unit = 1550 /500 = $3.100

  Costs assigned to ending inventory = 150 * $3.100 = $465