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A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 450 units. Ending inventory at January 31 totals 170 units.

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.)

A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 450 units. Ending inventory at January 31 totals 170 units. Units 410 Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Unit Cost $ 4.00 4.20 4.30 90 120 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 Inventory Cost per # of units unit Value # of units sold Cost of Goods Sold Cost per unit Cost of Goods Sold I Beginning Inventory Purchase - January 9 Purchase - January 25 Available for Sale January Sales Total | $ 0 $ 0

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