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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 27 units for $40 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 17 units @ $16.00 cost 33 units @ $24.00 cost 27 units @ $29.00 cost QS 5-12 Perpetual: Inventory costing with weighted average LO P1 Required: Monson sells 27 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.) Weighted Average - Perpetual: Goods purchased # of Cost per Inventory Date units unit Value Inventory Balance Cost of Goods Sold # of Cost of units unit Goods Sold sold Cost per # of units Cost per unit Inventory Balance December 7 December 14 Average cost December 15 December 21 Average cost Totals
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