Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. 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 equired: onson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory based on the FIF nethod. Perpetual FIFO: Goods Purchased Cost Per Goods Unit Purchased Cost of Goods Sold Cost Per Cost of Goods Unit Sold Inventory Balance #of Units Cost Per Inventory Unit Balance # of Units 1 of Units Sold Date December 7 December 14 December 15 1 2 3 4 of 8 Next > Saved Required: Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory based or method. Perpetual FIFO: Goods Purchased Cost of Goods Sold Date # of Units # of Cost Per Unit Goods Purchased Units Sold Cost Per Cost of Goods Unit Sold Inventory Balance # of Units Cost Per Inventory Unit Balance December 7 December 14 December 15 December 21 Totals Next > Required: Monson sells 28 units for $45 each on December 15. Monson uses a perpetual inventory system. Determine the costs December 31 ending inventory when costs are assigned based on LIFO. Perpetual LIFO: Cost of Goods Sold Inventory Balance Goods purchased Cost per Cost of Goods unit Available for Salo # of units Date # of units sold Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance December 7 $ $ 0.00 0.00 December 14 December 15 December 21 $ 0.00 Totals Required: Monson sells 28 units for $45 each on December 15. Monson uses a perpetual inventory system. Determine ending inventory when costs are assigned based on the weighted average method. (Round your per unit co Inventory Balance # of # of Weighted Average - Perpetual: Goods purchased Date Cost per Inventory units unit Value December 7 $ 0.00 December 14 $ 0.00 Cost per Cost of Goods Sold Cost per Cost of unit Goods Sold cost of units sold # of units cost per unit Inventory Balance $ 0.00 Average cost $ 0.00 December 15 $ 0.00 December 21 $ 0.00 Average cost Totals Neyt es a perpetual inventory system. Determine the costs assigned to ed average method. (Round your per unit costs to 2 decimal places.) ds Sold Inventory Balance Cost of Goods Sold # of units Cost per unit Inventory Balance $ 0.00 $ 0.00 $ 0.00 Saved Required: Monson sells 28 units for $45 each on December 15. Of the units sold, 14 are from the December 7 purchas December 14 purchase. Monson uses a perpetual inventory system. Determine the costs assigned to the D inventory when costs are assigned based on specific identification. Specific Identification-Perpetual: Goods purchased # of Cost per Date units unit of Cost of Goods Sold Cost per Cost of Goods unit Sold Inventory Balance of units Cost per Inventory unit Balance sold December 7 $ $ 0.00 0.00 December 14 $ 0.00 December 15 $ $ 0.00 0.00 December 21 $ 0.00 Totals its sold, 14 are from the December 7 purchase and 14 are from the stem. Determine the costs assigned to the December 31 ending ation. ods Sold Inventory Balance Cost of Goods # of units Cost per Inventory # of units unit Balance Sold $ 0.00 $ $ 0.00 0.00
