Trey Monson starts a merchandising business on Also, on December 15, Monson sells 26 units for $25 and enters into the following three inventory purchases Purchases on December 7 Purchases on December 14 Purchases on December 21 16 units @ $10.ee cost 33 units $15.00 cost 26 units @ $18.00 cost Required: Monson uses a perpetual Inventory system. Determine the costs assigned to the December 31 ending Inventory based on the FIFO method Perpetual FIFO Goods Purchased w Balance Cost Per Unit Date Cost of Goods Sold of Units Cost Per Cost of Unit Goods Sold Goods Purchased of Units of Units Cost Per Units Inventory Unit December 7 December 14 December 15 December 21 1 2 3 4 6 !! Next > Also, on December 15, Monson sells 26 units for $25 Purchases on December 7 Purchases on December 14 Purchases on December 21 16 units $10.cost 33 units @ $15.00 cost 26 units $18.ee cost Required: Monson sells 26 units for $25 each on December 15. Monson uses a perpetual Inventory system. Determine the costs assigned to the December 31 ending Inventory when costs are assigned based on LIFO. Perpetual LIFO Goods chased Cost of Goods Sold Inventory Balance Cost e ntory Cost per Date of units of units sold Cost of Goods Available for Sale Cost per unit Cost of Goods Sold of units December 7 $ 0.00 December 14 $ 0.00 December 15 December 21 0.00 Saved Required Information Trey Monson starts a merchandising business on L Also, on December 15, Monson sells 26 units for $22 er fand enters into the following three inventory purch Purchases on December 7 Purchases on December 14 Purchases on December 21 16 units @ $1e.ee cost 33 units $15.ee cost 26 units @ $18.ee cost Required: onson sells 26 units for $25 each on December 15. Monson uses a perpetual Inventory system. Determine the costs a encing Inventory when costs are assigned based on the welghted average method. (Rond your per unit costs to 2 de Weighted Average - Perpetual: Goods purchased Inventory balance Date of units Cost per unit Cost of Goods Sold # of units Cost per Cost of sold unitGoods Sold Inventory Value of units Cost per itory unit Balance December 7 $ 0.00 $ 0.00 December 14 Average cost $ 0.00 December 15 $ December 21 $ 0.00 Average cost Trey Monson starts a merchandising business on December 1 and enters Into the following three Inventory purchaser 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.ee cost 33 units @ $15.ee cost 26 units $18.ee Required: Monson sells 26 units for $25 each on December 15. Of the units sold, 13 are from the December 7 purchase and 13 are from December 14 purchase. Monson uses a perpetual Inventory system. Determine the costs assigned to the December 31 endir Invent en costs are assigned based on specific identification Perpetual Goods purchased Cost of Goods Sold Inventy ate of units cost per units sold Cost per unit Cost of Goods Sold of units Cost per unit December 7 December 14 December 15 December 21
