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Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson
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 27 units for $40 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 17 units @ $16.00 cost 33 units @$24.00 cost 27 units @ $29.00 cost Required: Monson sells 27 units for $40 each on December 15. Monson uses a perpetual inventory system. 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 Date # of units Cost per unit Inventory Value # of units sold Cost per unit Cost of Goods Sold # of units December 7 December 14 $ 0.00 $ 0.00 Average cost December 15 $ 0.00 December 21 $ 0.00 Average cost Totals $ 0.00 Inventory Balance Cost per Inventory unit Balance S 0.00
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