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! Required information [The following information applies to the questions displayed below.] Trey Monson starts a merchandising business on December 1 and enters into

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! Required information [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 28 units for $10 each. Purchases on December 7 Purchases on December 14 18 units @ $4.00 cost 35 units @ $6.00 cost Purchases on December 21 28 units @ $7.00 cost Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round cost per units to 2 decimal places.) Goods Available for Sale Weighted average - Periodic Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units sold Average Cost per Unit Cost of Goods Sold # of units in ending inventory Average Cost per unit Ending Inventory Purchases: December 7 18 $ 4.00 $ 72 December 14 35 $ 6.00 210 December 21 28 $ 7.00 196 Total 81 $ 478 $ 0.00 $ 0.00

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