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use the following information for the UICK Stuay below. Trey Monson starts a merchandising business on December 1 and enters into the following three inventory

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use the following information for the UICK Stuay below. Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also on December 15, Monson sells 30 units for $35 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units @ $14.00 cost 36 units @ $21.00 cost 30 units @ $25.00 cost QS 6-12 Perpetual: Inventory costing with weighted average LO P1 Required: Monson sells 30 units for $35 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 #ot Cost per Inventory units unit Value Cost of Goods Sold W of units Cost of sold unit Goods Sold Cost per Inventory Balance N of units Inventory unit Balance Cost per December 7 2015 1400 = 28000 20 $ 14.00 $ 280.00 December 14 36 $ 21.00 756.00 20 @ $ 14.00 = $ 21.00 Average cost December 15 361 56 $ 280.00 756.00 $1.036.00 30 $ 0.00 December 21 30 32500 750.00 + Average cost Totals $ 25.00 0 $ 0.00

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