QS 5-6 Perpetual: Inventory costing with weighted average LO P1 A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units. Units Unit Cost Beginning inventory on January 1 320 $ 3.00 Purchase on January 9 80 3.20 Purchase on January 25 100 3.34 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round your per unit costs to 2 decimal places.)

Perpetual Inventory Company

The cost assigned to ending inventory based on the weighted average method is:

= $465 ($3.10 * 150)

Explanation:

a) Data and Calculations:

                                                           Units Unit Cost   Total Cost

Beginning inventory on January 1    320   $ 3.00             $960

Purchase on January 9                       80      3.20                256

Purchase on January 25                   100      3.34                 334

Total available for sale                     500       3.10            $1,550

Sale on January 26                         (350)      3.10              1,085

Ending inventory on January 31       150       3.10                465

a progressive tax is a tax that imposes a lower tax rate on low-income earners compared to those with a higher income, making it based on the taxpayer's ability to pay. that means it takes a bigger percentage from high income earners than it does from low income people.

answer(b) gdp is not affected by

scott's production of the jewelry box;