Now I UMass Lowell Testimonials 6-A Saved 14 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 $50 each. Purchases on December 7 Purchased on December 11 Purchases on December 21 20 units @ $20.00 cost 34 units @ $30.00 cost 30 units @ $36.00 cost ed Required: Monson sells 30 units for $50 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 Cost of Goods Sold W of Specific Identification-Perpetual: Goods purchased Cost per Date of units unit December 7 $ 0.00 December 14 $ 0.00 Inventory Balance Cost per Inventory #ol units Balance 1 Cost per Cost of Goods Sold sold 5 0.00 December 15 S $ 0.00 0.00 December 21 $ 0.00 Total Drev Next Now I UMass Lowell Testimonials 6-A Saved 14 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 $50 each. Purchases on December 7 Purchased on December 11 Purchases on December 21 20 units @ $20.00 cost 34 units @ $30.00 cost 30 units @ $36.00 cost ed Required: Monson sells 30 units for $50 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 Cost of Goods Sold W of Specific Identification-Perpetual: Goods purchased Cost per Date of units unit December 7 $ 0.00 December 14 $ 0.00 Inventory Balance Cost per Inventory #ol units Balance 1 Cost per Cost of Goods Sold sold 5 0.00 December 15 S $ 0.00 0.00 December 21 $ 0.00 Total Drev Next