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Required information Skip to question [The following information applies to the questions displayed below.] Trey Monson starts a merchandising business on December 1 and enters
Required information
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[The following information applies to the questions displayed below.]
Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a periodic inventory system. Also, on December 15, Monson sells 25 units for $45 each.
Purchases on December 7 | 15 units @ $18.00 cost |
---|---|
Purchases on December 14 | 30 units @ $27.00 cost |
Purchases on December 21 | 25 units @ $32.00 cost |
Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method.
Note: Round cost per units to 2 decimal places.
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