Required information Use the following information for the Quick Study below. (Algo) (15-18) [The following information applies to the questions displayed below.) Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a periodic inventory system. Also, on December 15, Monson sells 29 units for $50 each. Purchases on December 7 19 units @ $20.00 cost Purchases on December 14 36 units e $30.00 cost Purchases on December 21 29 units e $36.00 cost QS 6-15A (Algo) Periodic: Inventory costing with FIFO LO P3 Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method, Periodic FIFO: Goods Available for Sale Cost of Goods Sold Cost of Goods # of Cost per Available for Cost per units # of units Cost of unit unit Goods Sold Sale sold Ending Inventory # of units Cost per in ending Ending unit Inventory Inventory $ Purchases: December 7 December 14 December 21 20.00 30.00 36.00 $ 30.00 36.00 Total Required information Use the following information for the Quick Study below. (Algo) (15-18) [The following information applies to the questions displayed below.) Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a periodic inventory system. 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 6-16A (Algo) Periodic: Inventory costing with LIFO LO P3 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Inventory Balance Periodic LIFO: Cost of Goods Available for Sale Cost of Goods Sold Cost per Cost of Goods # of Cost Available for # of units Cost of unit units Sale per unit Goods Sold sold # of units in ending inventory Cost per Ending unit Inventory Purchases: $ 0 December 7 December 14 o o $ 0.00 $ 0.00 0 December 21 $ 0.00 Olo Total 0 $ 0 $ 0 $ 0 Required information Use the following information for the Quick Study below. (Algo) (15-18) [The following information applies to the questions displayed below.) Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a periodic inventory system. Also, on December 15, Monson sells 29 units for $50 each. Purchases on December 7 19 unita $20.00 cost Purchases on December 14 36 units $30.00 cost Purchases on December 21 29 units $36.00 cost QS 6-17A (Algo) Periodic: Inventory costing with weighted average LO P3 Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round cost per units to 2 decimal places.) Weighted average - Periodic Goods Available for Sale Cost of Goods Sold Cost of Goods Average #of units Cost per w of units Cost of unit Available for Cost per Goods Sold Sale Unit Ending Inventory # of units Average Ending in ending Inventory Cost per unit Inventory sold Purchases: December 7 December 14 December 21 $ $ $ 0.00 0.00 0 Total Required information Use the following information for the Quick Study below. (Algo) (15-18) (The following information applies to the questions displayed below) Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a periodic Inventory system. Also, on December 15, Monson sells 29 units for $50 each Purchases on December 7 19 units $20.00 cost Purchases on December 14 36 units @ $30.00 cost Purchases on December 21 29 units $36.00 cost QS 6-18A (Algo) Periodic: Inventory costing with specific identification LO P3 of the units sold, 15 are from the December 7 purchase and 14 are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification. Specific Identification Goods Available for Sale Cost of Goods Sold Cost of Goods #of Cost per Cost Cost of # of units unit Available for units Salo per unit Goods Sold sold Ending Inventory # of units in ending Cost per Ending unit Inventory inventory 0 $ 0 Purchases: December 7 December 14 December 21 Total $ 0.00 s 0.00 Oo OOO $ 0.00 $ 0.00 0.00 $ 0 0 0 $ 0 0 $ 0 0