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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
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 perpetual inventory system. Also, on December Monson sells units for $ each.
Purchases on December
Purchases on December
Purchases on December
units @ $ cost units @ $ cost
units @ $ cost
Of the units sold, are from the December purchase and are from the December purchase. Determine the costs assigned to ending inventory when costs are assigned basted on specific identification.
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