Question: 0 Required information Use the following information for the Quick Study below Trey Monson starts a merchandising business on December 1 and enters into the

0 Required information 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 purchase Also, on December 15, Monson sells 28 units for $45 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units $18.00 cost 32 units $27.00 cost 28 units $32.00 cost QS 5-13 Perpetual: Inventory costing with specific identification LO P1 Required: Monson sells 28 units for $45 each on December 15. Of the units sold. 14 are from the December 7 purchase and 14 are from the ber 14 purchase. Monson uses a perpetual inventory system. Determinelthe costs assigned to the December 31 ending inventory when costs are assigned based on specific identification. 3 Answer is not complete. Specific Cost of Goods Sold Type here to search d information Answer is not complete. Identification -Perpetual: Goods purchased Cost of Goods Sold Inventory Balance Cost #of units sold Cost per Cost #of units Cost of Goods Sold #of units Inventory Balance per unit per unit 181800 ber 01-1 6400 180 27.00 2700783.00 $783.00 mber 28 45 001260 00 n, 000 2700 ember 896.00 27 00 32.00
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
