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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 $20 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $ 6 cost 20 units @ $12 cost 15 units @ $14 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.) Inventory Balance Date Weighted Average - Perpetual: Goods purchased Cost of Goods Sold # of # of Cost per Inventory Cost per Cost of Goods units unit Value units unit sold Sold 10 at $ 6.00 $ 60.00 # of units Cost per unit Inventory Balance December 7 10 at $ 6.00 = $ 60.00 $ 0.00 December 14 Average cost December 14 $ 0.00 December 15 $ 0.00 $ 0.00 December 21 Average cost December 21 Totals
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