QS 5-13 Perpetual: Inventoey costing with specific identification.

required:

monson sells 30 units for 50$ each on Dec 15

art 4 of 4 Required information Use the following Information for the Quick Study below. 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. pirts Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units 34 unita 30 unita $20.00 cost $30.00 cout $36.00 cost QS 5-13 Perpetual: Inventory costing with specific identification LO P1 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. Specific Identification Perpetual: Goods purchased Date #of units Cost per unit Cost of Goods Sold of cost per cost of units unit Goods Sold sold Inventory Balance units Cost per Inventory Balance unit December 7 $ 0.00 December 14 $ 0.00 0.00 December 15 17 $ $ 0.00 0.00 NZINA December 21 6 of 6 Next