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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

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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 purchases. Monson uses a perpetual inventory system Also, on December 15, Monson sells 25 units for $25 each Purchases on December 7 Purchases on December 14 Purchases on December 21 15 units @ $10.00 cost 30 units 515.0 cost 25 units @ $18.00 cost fontol Goods Sold Cos por Cost of Goods unt Sold Iporal Wor units sold Inventory Valio December 7 S 0.00 $ 0.00 December 14 Average cost December 14 0.00 Docember 15 0.00 0.00 December 21 Average cost December 21 Totals 0.00

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