Question

Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round your per unit costs to 2 decimal places.)

Answer 1

The information about inventory and sales is missing, so I looked for a similar question:

• Beginning inventory, January 1: 390 units at $3.80
• Purchase January 9: 90 units at $4.00
• Purchase January 25: 120 units at $4.10
• Sale January 26: 430 units
• Ending inventory, January 31: 170 units

Beginning inventory on January 1: 390 $3.80 = $1,482

Purchase on January 9: 90 $4.00 = $360

Purchase on January 25: 120 $4.10 = $492

total number of units = 600

total value = $2,334

average cost per unit = $3.89

cost of goods sold = 430 units x $3.89 = $1,672.70

ending inventory = 170 units x $3.89 = $661.30