Question

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. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 410 90 120 Unit Cost $ 4.00 4.20 4.30 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 Cost of Goods Sold # of units Cost per unit Inventory Value # of units sold Avg.Cost per unit Cost of Goods Sold 410 $ 6 4.000 $ 1,640 90 $ 4.200 378 Beginning Inventory Purchase - January 9 Purchase - January 25 Available for Sale 120 $ 4.300 516 620 4.087 2,534 ... 240 4.147 240 January Sales Total 995 3,529 860 $ 4.087 $ 240 $ 0

Please tell me if this is right

Answer 1

Periodic-Weighted average	Inventory on hand			Cost of goods sold
	# of units	Cost per unit	Inventory value	# of units sold	Avg cost per unit	Cost of goods sold
Beginning inventory	410	4	1640
Purchase-Jan 9	90	4.20	378
Purchase-Jan 25	120	4.30	516
Available for sale	620		2534
January Sales	450	4.087	1839	450	4.087	1839
Total	170	4.087	695	450	4.087	1839