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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
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 perpetual inventory system. Also, on December 15, Monson sells 15 units for $37 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units $23.00 coat 20 units $29.00 cost 15 units $31.00 cost Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. Note: Round your per unit costs to 2 decimal places. December 7 December 14 Weighted Average Perpetual Date # of units Goods purchased Cost per unit Inventory Value # of units sold Cost of Goods Sold Cost per Cost of Goods unit Inventory Balance Sold #of units Cost per unit Inventory Balance 10 at $ 23.00 $ 230.00 10 at $ 23.00 230.00 Average cost December 14 December 15 December 21 Average cost December 21 Totals 0.00 $ 0.00 $ 0.00 $ 0.00 0.00
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