Required information Trey Monson starts a merchandising business on December 1 and enters into three inventory purchases: Part 2 of 4 Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units @ $14.00 cost 36 units @ $21.00 cost 30 units @ $25.00 cost points eBook Required: Monson sells 30 units for $35 each on December 15. Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Amounts to be deducted should be indicated with a minus sign. Round cost per units to 2 decimals.) Hint Print Inventory Balance # of units Cost per Ending in ending inventory unit Inventory References Periodic LIFO: Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods # of Cost Cost per Cost of # of units Available for units unit Sale sold per unit Goods Sold " Purchases: December 7 20 $ 14.00 $ 280 December 14 36 21. 00 7 56 December 21 30 25.00 750 25.00 Total 186 $ 1,7860 $ 0 $ $ 14.00 21.00 0 $ 0 Required: Monson sells 30 units for $35 each on December 15. Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Amounts to be deducted should be indicated with a minus sign. Round cost per units to 2 decimals.) Periodic Weighted Average Cost of Goods Sold # of units Cost of Cost per unit sold Goods Sold Purchase - December 7 Purchase - December 14 Purchase - December 21 Available for Sale December Sales Inventory on hand Inventory # of units Cost per unit Value 20 $ 14.00 $ 280 36 21.00 756 25.00 750 1,786 86 0 Total 86 $ 1,786 Required: Monson sells 30 units for $35 each on December 15. Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Amounts to be deducted should be indicated with a minus sign. Round cost per units to 2 decimals.) Periodic Weighted Average Cost of Goods Sold # of units Cost per unit Cost of sold Goods Sold Purchase - December 7 Purchase - December 14 Purchase - December 21 Available for Sale December Sales Total Inventory on hand Inventory # of units Cost per unit Value 20 $ 14.000 $ 280 36 21.00 756 25.00 750 1,786 $ 1,786 Required: Monson sells 30 units for $35 each on December 15. Of the units sold, 16 are from the December 7 purchase and 14 are from the December 14 purchase and assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on specific identification. Specific Identification cost of Goods Available for Sale Cost of Goods Sold Inventory Balance Cost of Goods Available for Cost per unit # of units # of units sold Cost Cost of per unit Goods Sold # of units in ending inventory Cost per Ending unit Inventory Sale Purchases: $ $ 0 $ 0 December 7 December 14 December 21 Total $14.00 21.00 20 36. 301 86 $ 14.00 21.00 25.00 280 756 750 1,786 $ 14.00 21.00 25.00 $ $ 0 $ 0