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Safari File Edit View History Bookmarks Window Help 8 ) 16% Mon 8:17 PM Q DE . . . G ezto.mheducation.com C Home Content Question 2 - Wk 2 - Apply: Connect Homework [due... Homework Help - Q&A from Online Tutors - Course... + Wk 2 - Apply: Connect Homework [due Day 7] i Saved Help Save & Exit Submit 2 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 26 units for $25 each. Part 1 of 4 Purchases on December 7 16 units @ $10.00 cost Purchases on December 14 33 units @ $15.00 cost Purchases on December 21 26 units @ $18.00 cost 12.5 points 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 Cost of Goods Sold Inventory Balance # of Cost Per Goods # of Cost Per Cost of Goods Cost Per Date # of Units Inventory Units Unit Purchased Units Unit Sold Unit Balance Sold December 7 16 @ $ 10.00 = $ 160.00 16 @ $ 10.00 = $ 160.00 nanambon Mc Graw Education MAR 4 1 A xSafari File Edit View History Bookmarks Window Help 8 ) 16% Mon 8:17 PM Q DE . . . G ezto.mheducation.com C Home Content Question 2 - Wk 2 - Apply: Connect Homework [due... Homework Help - Q&A from Online Tutors - Course... + Wk 2 - Apply: Connect Homework [due Day 7] i Saved Help Save & Exit Submit Required: 2 Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory based on the FIFO method. Perpetual FIFO: Part 1 of 4 Goods Purchased Cost of Goods Sold Inventory Balance # of Cost Per Goods # of Cost Per Inventory Date Units Unit Purchased Units Cost Per Cost of Goods Unit Sold # of Units Unit Balance Sold 12.5 December 7 16 @ $ 10.00 = $ 160.00 16 @ $ 10.00 = 160.00 points December 33 @ $ 15.00 = $ 495.00 16 $ 10.00 = 160.00 14 33 @ $ 15.00 495.00 $ 655.00 December 26 @ $ 18.00 = $ 468.00 16 @ $ 10.00 = $ 160.00 15 December 26 @ $ 18.00 = $ 468.00 6 @ $ 10.00 = $ 160.00 21 33 @ $ 15.00 = $ 495.00 Totale $ 468 0n $ 655 0ol Mc Graw Hill Education MAR 4 1