Question: Fill in the blue highlighted boxes on the chart please! Required information [ The following information applies to the questions displayed below. ] Trey Monson
Fill in the blue highlighted boxes on the chart please!
Required information
The following information applies to the questions displayed below.
Trey Monson starts a merchandising business on December and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December Monson sells units for $ each.
tablePurchases on December units @ $ costPurchases on December units @ $ costPurchases on December units @ $ cost
Required:
Determine the costs assigned to the December ending inventory based on the FIFO method.
tablePerpetual FIFO:December Goods Purchased,Cost of Goods Sold,Inventory Balance# of Units,tableCost PerUnittableGoodsPurchasedtable# ofUnitsSoldtableCost PerUnittableCost ofGoods Sold# of Units,tableCost PerUnittableInventoryBalanceTotal December December Total December
tableDecember TotalsTotals
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