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Determine the cost assigned to ending inventory when cost are assigned based on the weighted average method Required information Use the following information for the
Determine the cost assigned to ending inventory when cost are assigned based on the weighted average method
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 e $36.00 cost 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 Average Cost per Cost of of units of units Available for Cost per sold unit Goods Sold Sale Unit Ending Inventory of units Average Ending in ending Inventory Coat per unit Inventory Purchase December 7 December 14 December 21 Step by Step Solution
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