The following information was available from the inventory records of Sunland Company for January: Units Unit Cost Total CostBalance 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?$52712.$52127.$52244.$53215.

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Description: The following information was available from the inventory records of Sunland Company for January: Units Unit Cost Total CostBalance at January 1 9200 $9.79 $90068 Purchases: January 6 6400 10.23 65472 January 26 8000 10.71 8

Under weighted average method of inventory, weighted average unit cost is computed for valuation of…

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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

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...

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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?

$52712.

$52127.

$52244.

$53215.

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