Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.)Weighted Average - Perpetual:Goods PurchasedCost of Goods SoldInventory Balance# ofunitssold# ofCost per Cost of GoodsunitCost perCost perInventoryBalanceDate# of unitsunitsunitSoldunitJanuary 1185 @$ 11.00 =$ 2,035.00January 10145 @$ 11.00 =$ 1,595.0040 @$ 11.00 =$440.00January 20100 @$ 10.0040 @$ 11.00 =$440.00100 @$ 10.00 =1,000.00Average cost140 @$ 1,440.00January 25125 @January 30270 @$9.50270 @$9.502,565.00Totals$ 1,595.00270 @ Required informationUse the following information for the Exercises below.[The following information applies to the questions displayed below.]Laker Company reported the following January purchases and sales data for its only product.ActivitiesUnits Acquired at Cost185 units @ $11.00 = $2,035DateUnits sold at RetailJan. 1 Beginning inventoryJan. 10 Sales145 units @ $20.00Jan. 20 Purchase100 units @ $10.00 =1,000Jan. 25 Sales125 units @ $20.00Jan. 30 Purchase270 units @ $ 9.50 =2,565Totals555 units$5,600270 unitsThe Company uses a perpetual inventory system. For specific identification, ending inventory consists of 285 units, where270 are from the January 30 purchase, 5 are from the January 20 purchase, and 10 are from beginning inventory.

Name: Determine the cost assigned to ending inventory and to cost of goods
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.)Weighted Average - Perpetual:Goods PurchasedCost of Goods SoldInventory Balance# ofunitssold# ofCost per Cost