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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 30 units for $50 each. Purchases on December 7 Purchases on December 14 20 units @ $20.00 cost Purchases on December 21 34 units @ $30.00 cost 30 units @ $36.00 cost Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round your per unit costs to 2 decimal places.) December 7 Weighted Average - Perpetual: Goods purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit Inventory Value # of units sold Cost per Cost of Goods unit Sold Inventory # of units Cost per unit Balance December 14 Average cost December 14 December 15 December 21 Average cost December 21 Totals
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