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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,
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 $30 each. Purchases on December 7 Purchases on December 14 10 units @ $16.00 cost Purchases on December 21 20 units @ $22.00 cost 15 units @$24.00 cost QS 5-13 (Algo) Perpetual: Inventory costing with weighted average LO P1 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 Date: # of # of Cost per unit units Inventory Value units Cost of Goods Sold Cost per Cost of Goods Inventory Balance Inventory unit Sold # of units Cost per unit sold Balance $ 0.00 $ 0.00 December 7 December 14 Average cost December 14 December 15 $ 0.00 $ 0.00 December 21 Average cost December 21 Totals $ 0.00 0.00
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