During january 20x3, metro co., which maintains a perpetual inventory system, recorded the following information pertaining to its inventory: units unit cost total cost units on hand balance on 1/1/x3 1,000 $1 $1,000 1,000 purchased on 1/7/x3 600 $3 $1,800 1,600 sold on 1/20/x3 900 700 purchased on 1/25/x3 400 $5 $2,000 1,100 under the moving-average method, what amount should metro report as inventory at january 31, 20x3?

Metro report as inventory 1100 units at 2,4 unit cost, to total cost of 2640

Explanation:

if you put on a datasheet information:

dateunitsunit costtotal costunits available  

1/1/x310001         1000          1000             initial

1/7/x3600         3         1800          1600             purchase

1/20/x3700                                                    900                  sale

1/25/x3400         5         2000           1100             purchase

1/31/x320002,4         4800           1100              Final

4800 /2000 = unit cost in January = 2,4 x 1100 units=  2640  

The purpose of financial accounting is to provide information that helps with the assessment of a firm's financial history and current performance. Financial accounting includes income statements, balance sheets, and statements of cash flows.