Use the following information for the Quick Study below. Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases Also, on December 15, Monson sells 25 units for $45 each. Part 3 of 4 Purchases on December 7 Purchases on December 14 Purchases on December 21 15 units 29 units 25 uniu $18.00 cost $27.00 cost $32.00 cost points QS 6-12 Perpetual: Inventory costing with weighted average LO P1 eBoo Required: Monson sells 25 units for $45 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.) Weighted Average - Perpetual: Goods purchased Inventory Balance # of units Date Cost per unit Cost of Goods Sold W of units Cost per Cost of sold Goods Sold Inventory Value of units Cost per unit Inventory Balance References December 7 $ 18.00 - $ 270.00 15 @ 29 @ $ 18.00 = 270.00 $ 27.00 - $783.00 December 14 15 @ 15 @ 29 @ $ 18.00 - $ 27.00 = $ 270.00 783.00 $1,053.00 Average cost December 15 25 @ S 45.00 - 1.125.00 December 21 25@ $ 32.00 - 80 $ 32.00 = 800.00 25 @ 25 @ Average cost Totals 1,125.00 Use the following information for the Quick Study below. Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 25 units for $45 each. Part 4 of 4 Purchases on December 7 Purchases on December 14 Purchases on December 21 15 units 29 units 25 units $18.00 cost $27.00 cost $32.00 cost points QS 6-13 Perpetual: Inventory costing with specific identification LO P1 Required: Monson sells 25 units for $45 each on December 15. Of the units sold, 12 are from the December 7 purchase and 13 are from the December 14 purchase. Monson uses a perpetual Inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on specific identification. Specific Identification Perpetual Goods purchased Cost of Goods Sold Cost per Cost of Goods unit Sold #of Inventory Balance Cost per Inventory unit Balance Date #of units sold # of units Cost per unit References December 7 15 @ 29 @ $ 18.00 - $ 27.00 - $270.00 $783.00 15 of $ 18.00 - 15 a $ 18.00 - 29 @ $ 27.00 = $ 270.00 $ 270.00 783.00 $1.053.00 December 14 December 15 $ 18.00 - $ 27.00 - $ $ 0.00 0.00 December 21 25 e 5 32.00 $800.00 $ 18.00 $ 27.00 = $ 32.00 - Totals 1 Prey 7 of 10 !!! Next >