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hello I need help with these 4 questions. thank you for your time. Required information Trey Monson starts a merchandising business on December 1 and
hello I need help with these 4 questions. thank you for your time.
Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases Also, on December 15, Monson sells 10 units for $50 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 8 units @ $20.00 cost 17 units @ $30.00 cost 15 units @ $36.00 cost Required: Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory based on the FIFO method Perpetual FIFO Goods Purchased Inventory Balance #of Units Date Cost Per Unit Cost of Goods Sold # of Cost Per Cost of Goods Units Unit Sold Sold Goods Purchased # of Units Cost Per Unit Inventory Balance December 7 S 20.00 S 160.00 December 14 17 @ S 30.00 $ 510.00 December 15 10@ S 50.00 S 500.00 December 21 15 @ S 36.00 $ 540.00 Totals $ 500.00 Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also on December 15, Monson sells 10 units for $50 each Purchases on December 7 Purchases on December 14 Purchases on December 21 8 units @ $20.00 cost 17 units @ $30.00 cost 15 units @ $36.00 cost Required: Monson sells 10 units for $50 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on LIFO. Perpetual LIFO Goods purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance December 7 December 14 December 15 December 21 Totals ! Required information of 4 Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 10 units for $50 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 8 units @ $20.00 cost 17 units @ $30.00 cost 15 units @ $36.00 cost -ok Required: Monson sells 10 units for $50 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round your per unit costs to 2 decimal places.) mt Weighted Average - Perpetual: Goods purchased nt Inventory Balance Cost per Date # of units Inventory Value Cost of Goods Sold # of Cost per units Cost of unit sold Goods Sold unit # of units Gost per unit Inventory Balance Ences December 7 December 14 Average cost December 15 December 21 Average cost Totals Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also on December 15, Monson sells 10 units for $50 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 8 units @ $20.00 cost 17 units @ $30.00 cost 15 units @ $36.00 cost Required: Monson sells 10 units for $50 each on December 15. Of the units sold, 6 are from the December 7 purchase and 4 are from the December 14 purchase. Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on specific identification Specific Identification--Perpetual: Goods purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit # of units sold Cost per Cost of Goods # of units unit Sold Cost per unit Inventory Balance December 7 December 14 December 15 December 21 TotalsStep by Step Solution
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