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 30 units for $40 each Purchases on December 7 20 units $16 00 cost Purchases on December 14 35 units $24 00 cost Purchases on December 21 30 units $29 00 cost Required Monson uses a perpetual inventory system Determine the costs assigned to the December 31 ending inventory based on the FIFO method 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 30 units for $40 each Purchases on December 7 20 units $16 00 cost Purchases on December 14 35 units $24 00 cost Purchases on December 21 30 units $29 00 cost Required Monson sells 30 units for $40 each on December 15 Monson uses a perpetual inventory system Determine the costs assigned to the December 31 ending inventory when costs are assigned based on LIFO 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 30 units for $40 each Purchases on December 7 20 units $16 00 cost Purchases on December 14 35 units $24 00 cost Purchases on December 21 30 units $29 00 cost Required Monson sells 30 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 ) 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 30 units for $40 each Purchases on December 7 20 units $16 00 cost Purchases on December 14 35 units $24 00 cost Purchases on December 21 30 units $29 00 cost Required Monson sells 30 units for $40 each on December 15 Of the units sold, 16 are from the December 7 purchase and 14 are from the December 14 purchase Monson uses a perpetual inventory system Determine the costs assigned to the December 31 ending inventory when costs are assigned based on specific identification ntory Balanc ost of Goods Sold oods Purchase of Units 1 Cost Per Cost of Goods Cost Per Inventory of Units Cost Per Unit Goods Purchased Unit Balance Date 0 Unit Sold Units Sold December 7 December December 15 December 21 Totals

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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 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 30 units for $40 each.


Purchases on December 7	20 units @ $16.00 cost
Purchases on December 14	35 units @ $24.00 cost
Purchases on December 21	30 units @ $29.00 cost

Required: Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory based on the FIFO method. image text in transcribed

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 30 units for $40 each.


Purchases on December 7	20 units @ $16.00 cost
Purchases on December 14	35 units @ $24.00 cost
Purchases on December 21	30 units @ $29.00 cost

Required: Monson sells 30 units for $40 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on LIFO.

image text in transcribed

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 30 units for $40 each.


Purchases on December 7	20 units @ $16.00 cost
Purchases on December 14	35 units @ $24.00 cost
Purchases on December 21	30 units @ $29.00 cost

Required: Monson sells 30 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.)

image text in transcribed

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 30 units for $40 each.


Purchases on December 7	20 units @ $16.00 cost
Purchases on December 14	35 units @ $24.00 cost
Purchases on December 21	30 units @ $29.00 cost

Required: Monson sells 30 units for $40 each on December 15. Of the units sold, 16 are from the December 7 purchase and 14 are from the December 14 purchase. Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on specific identification. image text in transcribed

ntory Balanc ost of Goods Sold oods Purchase of Units 1 Cost Per | Cost of Goods | Cost Per Inventory # of Units Cost Per Unit Goods Purchased Unit Balance Date 0 Unit Sold Units Sold December 7 December December 15 December 21 Totals