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i need the chart filled out. i think i am on the right track 4 Required information Trey Monson starts a merchandising business on December
i need the chart filled out. i think i am on the right track
4 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 30 units for $25 each. Part 4 of 4 Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units 510.00 cost 36 units @ $15.00 cost 30 units @ $18.00 cost 12,5 paints Required: Monson sells 30 units for $25 each on December 15. Of the units sold, 16 are from the December 7 purchase and 14 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 Date Cost per Nof units sold W of units unit 20 $ 10.00 - $200.00 Cost of Goods Sold Cost per Cost of Goods unit Sold Cost per Inventory Balance of units Inventory unit Balance 20 a $ 10.00 - $ 200.00 December 7 4 Specific Identification-Perpetual: Goods purchased Cost per Hof units Date Cost of Goods Sold Inventory Balance Cost per Cost of Goods Inventory # of units unit Sold unit Balance # of units sold Cost per unit December 7 20a $ 10.00 - $200.00 20 @ $ 10.00 - Part 4 of 4 $ 200,00 December 14 36 @ $ 15.00 = $540.00 2 20 @ $ 10.00 36 @ $ 15.00 - $ 200.00 540.00 $ 740.00 12.5 points . December 15 20 @ $ 10.00 = 10 @ $ 15.00 = $ 200.00 $ 150.00 @ $ 10.00 = @ $ 15.00 = December 21 30 @ $ 18.00 $540,00 $ 10.00 = $15.00 = $ 18.00 = + Totals $350.00 Step by Step Solution
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