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 $39 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $25.00 cost 20 units @$31.00 cost 15 units @$33.00 cost Required: Determine the costs assigned to the December 31 ending inventory based on the FIFO method. Goods Purchased Date Cost Per # of Units Unit December 7 December 14 Total December 14 December 15 Total December 15 December 21 Perpetual FIFO Cost of Goods Sold Goods Purchased # of Units Cost Per Cost of Goods Unit Sold # of Units Sold Inventory Balance Cost Per Unit Inventory Balance 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 $39 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $25.00 cost 20 units @ $31.00 cost 15 units @$33.00 cost Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Perpetual LIEQ: Goods purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit Cost of Goods Available for # of units unit Sale sold Cost per Cost of Goods Sold of units Cost per unit Inventory Balance $ 0.00 $ 0.00 December 7 December 14 Total December 14 December 15 Total December 15 December 21 $ 0.00 S 0.00 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 $39 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $25.00 cost 20 units @$31.00 cost 15 units $33.00 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.) Weighted Average-Perpetual; Goods purchased Cost of Goods Sold Inventory Balance Date #of #of units Cost per unit Inventory Value units sold Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance $ 0.00 $ 0.00 December 7 December 14 Average cost December 14 December 15 December 21 Average cost December 21 Totals $ 0.00 $ 0.00 S 0.00 $ 0.00 [The following information applies to the questions displayed below.] 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 $39 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $25.00 cost 20 units @$31.00 cost 15 units @$33.00 cost Of the units sold, 8 are from the December 7 purchase and 7 are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification. Purchases December 7 December 14 December 21 Total Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods #of Available for Sale units sold Cost Cost of per unit Goods Sold in ending of units Cost per Ending unit Inventory Inventory $ 0 $0.00 $ 0 $0.00 $ 0 0 0.00 0 0.00 0 0 0.00 0 0 0 0 $ 0 0 $ 0