Question
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
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 23 units for $30 each.
Purchases on December 7 13 units @ $12.00 cost
Purchases on December 14 30 units @ $18.00 cost
Purchases on December 21 23 units @ $22.00 cost
Required: Monson sells 23 units for $30 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.)
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