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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 29 units for $50 each. Purchases on December 14 Purchases on December 21 19 units @ $20.00 cost 36 units @ $30.00 cost 29 units @ $36.00 cost Required: Monson sells 29 units for $50 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 Inventory Balance # of units Date Cost per unit Cost of Goods Sold # of Cost per cost of units sold unit Goods Sold Inventory Value # of units Cost per unit Inventory Balance December 7 $ 0.00 December 14 $ 0.00 Average cost $ 0.00 December 15 $ 0.00 December 21 $ 0.00 Average cost Totals I I I $ 0.00
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