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Required information Use the following information for the Quick Study below Trey Monson starts a merchandising business on December 1 and enters into the following
Required information Use the following information for the Quick Study below 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 7 Purchases on December 14 Purchases on December 21 19 units $20.00 cost 36 units $30.00 cost 29 units$36.00 cost QS 6-13 Perpetual: Inventory costing with specific identification LO P1 Required Monson sells 29 units for $50 each on December 15. Of the units sold, 15 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 Specific Identification-Perpetual: Goods purchased ost of Goods Sold Inventory Balance # of units Cost per unit #of units SO Cost per Cost of Goods Cost per Inventory Balance Date # of units unit Sold December 7 19|@| $ 20.00! =| $380.00 December 14 $ 0.00 $ 0.00 December 15 $ 0.00 S 0.00 December 21 $ 36.00 $ 0.00 Totals
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