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Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 15 units

Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 15 units for $20 each.

Purchases on December 7 10 units @ $ 6.00 cost
Purchases on December 14 20 units @ $12.00 cost
Purchases on December 21 15 units @ $14.00 cost
Monson sells 15 units for $20 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method.

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Weighted Average - Perpetual: Goods purchased Cost of Goods Sold Inventory Balance #of Cost of Cost per Inventory Balance Cost per # of Cost per Inventory units Date Goods-Sold I#of units unit Value unit unit sold December 7 December 14 Average cost December 15 December 21 Average cost Totals

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