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Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a periodic inventory system. Also,
Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a periodic inventory system. Also, on December 15, Monson sells 15 units for $20 each. Purchases on December 7 Purchases on December 14 10 units 20 units $ 6 cost $12 cost Purchases on December 21 15 units $14 cost QS 5-17A (Static) Periodic: Inventory costing with weighted average LO P3 Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. Note: Round cost per units to 2 decimal places. Purchases: December 7 December 14 December 21 Total Weighted average - Periodic Goods Available for Sale # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost of Goods Sold Average Cost per Unit 0 $ # of units Cost of Goods Sold in ending inventory Ending Inventory Average Ending Cost per unit Inventory $ 0.00 $ 0.00
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