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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 28 units for $45 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units @ $18.00 cost 32 units @ $27.00 cost 28 units @ $32.00 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.) Date Weighted Average - Perpetual: Goods purchased Cost of Goods Sold # of Cost per unit Inventory Value units Cost per Cost of Goods unit Sold sold $ 0.00 Inventory Balance Cost per unit Inventory Balance # of units # of units December 7 0.00 December 14 Average cost December 14 $ 0.00 December 15 $ 0.00 $ FA 0.00 December 21 0 Average cost December 21 Totals $ 0.00
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