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Saved Help Say Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units @ $20.00 cost 34 units @ $30.00 cost
Saved Help Say Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units @ $20.00 cost 34 units @ $30.00 cost 30 units @ $36.00 cost QS 6-13 Perpetual: Inventory costing with specific identification LO P1 Required: Monson sells 30 units for $50 each on December 15. Of the units sold, 16 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 Cost of Goods Sold Inventory Balance Cost per Cost of Goods # of units Cost per Inventory unit Sold unit Balance Date # of units Cost per # of units sold unit December 7 December 14 December 15 December 21 Totals
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