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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
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 perpetual inventory system. Also on December 15, Monson sells 25 units for $25 each Purchases on December 7 15 units 510.00 cost Purchases on December 14 30 units $15.00 cost Purchases on December 21 25 units @ $18.00 cost of the units sold, 12 are from the December 7 purchase and 13 are from the December 14 purchase. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on specific identification Cost of Goods Sold Soodud Good purchased of of units sold Coupe Cost pur Cost of Goods Sold Inventory Blog Inventory unt Balance of units December 7 $ 0.00 $ 0.00 December 14 Total December 14 0.00 $ December 15 0.00 0.00 5 Total December 15 $ 0.00 December 21 Totals
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