Question
Use the following information for the Quick Study below. Skip to question Trey Monson starts a merchandising business on December 1 and enters into the
Use the following information for the Quick Study below. Skip to question Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 27 units for $20 each. Purchases on December 7 17 units @ $8.00 cost Purchases on December 14 34 units @ $12.00 cost Purchases on December 21 27 units @ $14.00 cost QS 5-12 Perpetual: Inventory costing with weighted average LO P1 Required: Monson sells 27 units for $20 each on December 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.)
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