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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
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 $25 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $11.00 cost 20 units @ $17.00 cost 15 units @ $19.00 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.) Weighted Average - Perpetual: Goods purchased Cost of Goods Sold # of Cost per unit Cost per Cost of Goods Inventory Value units unit sold Sold Date # of units Inventory Balance Inventory Cost per unit Balance # of units December 7 December 14 Average cost December 14 December 15 December 21 Average cost December 21 Totals
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