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Required information ! Required information [ The following information applies to the questions displayed below. ] Trey Monson starts a merchandising business on December 1
Required information
Required information
The following information applies to the questions displayed below.
Trey Monson starts a merchandising business on December and enters into the following three inventory purchases. Monson uses a periodic inventory system. Also, on December Monson sells units for $ each.
Of the units sold, eight are from the December purchase and seven are from the December purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification.
tableSpecific IdentificationGoods Available for Sale,Cost of Goods Sold,Ending Inventory# of units,tableCost perunittableCost of GoodsAvailable forSaletable# ofunitssoldtableCostper unittableCost ofGoods Soldtable# of unitsin endinginventorytableCost perunittableEndingInventoryPurchases:December December December Total
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The following information applies to the questions displayed below.
Trey Monson starts a merchandising business on December and enters into the following three inventory purchases. Monson uses a periodic inventory system. Also, on December Monson sells units for $ each.
Purchases on December units @ $ cost
Purchases on December units @ $ cost
Purchases on December units @ $ cost
Of the units sold, eight are from the December purchase and seven are from the December purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification.
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