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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
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 23 units for $30 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 13 units $12.00 cost 30 units $19.00 cost 23 units $22.00 cost QS 5-12 Perpetual: Inventory costing with weighted average LO P1 Required: Monson sells 23 units for $30 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 Date # of Inventory units unit Value December 7 13 $ 0.00 Cost per Cost of Goods Sold # of Cost of units unit Goods Sold sold Inventory Balance Cost per # of units Inventory unit Balance Cost per December 14 30 $ 0.00 Average cost $ 0.00 December 15 $ 0.00 December 21 $ 0.00 0 Average cost Totals $ 0.00
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