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The highlighted blue boxes need to be filled in, help please Trey Monson starts a merchandising business on December 1 and enters into the following
The highlighted blue boxes need to be filled in, help please
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 26 units for $25 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 16 units @ $10.00 cost 33 units $15.00 cost 26 units @ $18.00 cost S 5-12 (Algo) Perpetual: Inventory costing with LIFO LO P1 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Perpetual LIFO: Cost of Goods Sold Goods purchased Inventory Balance Date Cost per Cost per # of units Cost of Goods Available for Sale N of units sold Cost per Cost of Goods unit Sold w of units Inventory Balance unit unit December 7 16 at $ 10.00] = $ 160.00 33 af $ 15.00 $ 495.00 al December 14 at $ Total December 14 0.00 December 15 Total December 15 26 at $ 18.00 $ 468.00 December 21 Totals Step by Step Solution
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