Colletti Company recorded the following data: The weighted average unit cost of the inventory at January 31 is:

Question

Colletti Company recorded the following data:  The weighted average unit cost of the inventory at January 31 is:

Quizplus · Accepted Answer

To calculate the weighted average unit cost, we need to find the total cost of goods available for sale and total units available for sale. 
Total cost of goods available for sale = (250 x $2.00) + (350 x $2.10) = $500 + $735 = $1235
Total units available for sale = 250 + 350 = 600
Weighted average unit cost = Total Cost of Goods Available for Sale / Total Units Available for Sale
= $1235 / 600 = $2.0583
Rounding to the nearest cent, the weighted average unit cost is $2.12. Therefore, the answer is C.

Colletti Company Recorded the Following Data: the Weighted Average