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 15 units for $20 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $ 6.00 cost 20 units a $12.00 cost 15 units @ $14.00 cost Required: Monson sells 15 units for $20 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. Inventory Balance Cost of Goods Sold #of units Cost of unit sold Goods Sold Cost per Cost per Weighted Average . Perpetual: Goods purchased #of Date Cost per Inventory units unit Value December 7 10 @ $ 6.00 $ 60.00 $ December 14 20 $ 12.00 240.00 # of units unit Inventory Balance 10@ $ 6.00 = $ 60.00 10 $ 6.00 - $ 60.00 20 @ $ 12.00 - 240.00 30 $ 300.00 Average cost $ 0.00 December 15 December 21 $ 0.00 Average cost Totals