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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
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 15 units for $26 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $12.00 cost 20 units @ $18.00 cost 15 units @ $20.00 cost Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round your per unit costs to 2 decimal places.) Inventory Balance Weighted Average - Perpetual: Goods purchased Cost of Goods Sold # of Cost per Cost of Goods Cost per unit Inventory Value units unit Sold sold Date # of units # of units Cost per unit Inventory Balance December 7 $ 0.00 $ 0.00 December 14 $ 0.00 Average cost December 14 December 15 $ 0.00 $ 0.00 December 21 0 Average cost December 21 $ 0.00 Totals
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