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Determine the cost assigned to ending inventory when cost are assigned based on the weighted average method Ch Required information Use the following information for
Determine the cost assigned to ending inventory when cost are assigned based on the weighted average method
Ch Required information Use the following information for the Quick Study below. (Algo) (15-18) [The following information applies to the questions displayed below.) Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a periodic inventory system. Also, on December 15, Monson sells 30 units for $50 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units @ $20.00 cost 34 units @ $30.00 cost 30 units . $36.00 cout QS 5-17A (Algo) Periodic: Inventory costing with weighted average LO P3 Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method (Round cost per units to 2 decimal places.) Weighted average - Periodic Goods Available for Sale Cost of Goods Sold Cost of Goods of units Average Cost per Cost of # of units # of units Available for unit sold Cost per Sale Unit Goods Sold in ending Inventory Ending Inventory Average Ending Cost per unit Inventory Purchases December 7 December 14 December 21 Total $ 5 0.00 $ 0.00 0 Step by Step Solution
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