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Trey Monson starts a merchandising business on December 1 and enters into three inventory purchases: $14.00 cost Purchases on December 1436 units $21.00 cost 30
Trey Monson starts a merchandising business on December 1 and enters into three inventory purchases: $14.00 cost Purchases on December 1436 units $21.00 cost 30 units $25.00 cost Purchases on December 7 20 units Purchases on December 21 QS 6-17A Periodic: Inventory costing with specific identification LO P3 Required Monson sells 30 units for $35 each on December 15. Of the units sold, 16 are from the December 7 purchase and 14 are from the December 14 purchase and assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on specific identification
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