Coronado's Place recorded the following data:      Date Unit Received Sold On Hand Unit Cost 1/1 Inventory    540 $2.80 1/8 Purchased 960  1500 2.30 1/12 Sold  1300 200  The weighted average unit cost of the inventory at January 31 is:

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Question:

Coronado's Place recorded the following data:
    
Date Unit Received Sold On Hand Unit Cost
1/1 Inventory    540 $2.80
1/8 Purchased 960  1500 2.30
1/12 Sold  1300 200 
The weighted average unit cost of the inventory at January 31 is:

Answers

Answer:The weighted average unit cost of the inventory at January 31 is $496Explanation:Weighted Average unit cost the average cost of units on hand on each day. It is calculated by dividing total inventory value by total available units.Date                    Unit Received / Sold  On Hand Unit     Cost   Balance1/1       Inventory     540 units at $2.80          540             $1,512    $1,5121/8      Purchased   960 units at $2.3           1500            $2208   $3,720 1/12      Sold            1,300 at ($3,720/1500)   200             $3,224   $496

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