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Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases Purchases on December 7 Purchases on December 14
Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases Purchases on December 7 Purchases on December 14 Purchases on December 21 17 units 58.00 cost 34 units 512.00 cost 27 units 514.00 cost Required: Monson sells 27 units for $20 each on Deoember 15. Monson uses a perpetual inventory system. 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.) Cost of Goods Sold # of | Cost per | Inventory units Inventoryunitsnit Goods l Inventory Balance Date Cost per Cost of | # of units | Cost per unit $8.00 12.00 alue sold unit Goods Sold 17 8.00 138.00 Decamber 14 7 800 138 34 12.00408 51 20.00 544.00 408.00 Average cost 20.00540.00 10.67 181.39 S 0.00 34 27 Average cost Totals 5540.00
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