The following information was available from the inventory records of Sunland Company for January: Units Unit Cost Total Cost Balance at January 1 9200 $9.79 $90068 Purchases: January 6 6400 10.23 65472 January 26 8000 10.71 85680 Sales January 7 (7400 ) January 31 (11100 ) Balance at January 31 5100 Assuming that Sunland does not maintain perpetual inventory records, what should be the inventory at January 31, using the weighted-average inventory method, rounded to the nearest dollar?
The following information was available from the inventory records of Sunland Company for January: Units Unit Cost Total Cost Balance at January 1 9200 $9.79 $90068 Purchases: January 6 6400 10.23 65472 January 26 8000 10.71 85680 Sales January 7 (7400 ) January 31 (11100 ) Balance at January 31 5100 Assuming that Sunland does not maintain perpetual inventory records, what should be the inventory at January 31, using the weighted-average inventory method, rounded to the nearest dollar?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 14RE: Refer to the information provided in RE8-4. If Paul Corporations inventory at January 1, 2019, had a...
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Transcribed Image Text:The following information was available from the inventory records of Sunland Company for January:
Units
Unit Cost
Total Cost
Balance at January 1
9200
$9.79
$90068
Purchases:
January 6
6400
10.23
65472
January 26
8000
10.71
85680
Sales
January 7
(7400 )
January 31
(11100 )
Balance at January 31
5100
Assuming that Sunland does not maintain perpetual inventory records, what should be the inventory at January 31, using the
weighted-average inventory method, rounded to the nearest dollar?
O $52712.
O $53215.
O $52127.
O $52244.
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