$\backslash (!\backslash )$

Required information

Use the following information for the Quick Study below. $($Algo$)(15-18)$

$[$The following information applies to the questions displayed below.$]$

Trey Monson starts a merchandising business on December $1$ and enters into the following three inventory purchases. Monson uses a periodic inventory system. Also, on December $15,$ Monson sells $15$ units for $\backslash (\backslash$$ $50\backslash )$ each.

$\backslash$begin$\{$tabular$\}\{$lr$\}$

Purchases on December $7$ & $8$ units @ $\backslash (\backslash$$ $20\mathrm{.}00\backslash )$ cost $\backslash \backslash$

Purchases on December $14$ & $17$ units @ $\backslash (\backslash$$ $30\mathrm{.}00\backslash )$ cost $\backslash \backslash$

Purchases on December $21$ & $15$ units @ $\backslash (\backslash$$ $36\mathrm{.}00\backslash )$ cost

$\backslash$end$\{$tabular$\}$

QS $6-17$A $($Algo$)$ Periodic: Inventory costing with weighted average LO P$3$

Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method.

Note: Round cost per units to $\backslash (\backslash$mathbf$\{2\}\backslash )$ decimal places.

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{15\}\{|$c$|\}\{$Weighted average $-$ Periodic$\}\backslash \backslash$

$\backslash$hline & $\backslash$multicolumn$\{5\}\{|$c$|\}\{$Goods Available for Sale$\}$ & $\backslash$multicolumn$\{4\}\{|$c$|\}\{$Cost of Goods Sold$\}$ & $\backslash$multicolumn$\{5\}\{|$c$|\}\{$Ending Inventory$\}\backslash \backslash$

$\backslash$hline & $\backslash$# of units & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Cost per unit$\}$ & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Cost of Goods Available for Sale$\}$ & $\backslash$# of units sold & Average Cost per Unit & & $\backslash$begin$\{$tabular$\}\{$l$\}$

of $\backslash \backslash$

Sold

$\backslash$end$\{$tabular$\}$ & $\backslash$# of units in ending inventory & & $\backslash$begin$\{$tabular$\}\{$l$\}$

ge $\backslash \backslash$

unit

$\backslash$end$\{$tabular$\}$ & & $\backslash$begin$\{$tabular$\}\{$l$\}$

ng $\backslash \backslash$

tory

$\backslash$end$\{$tabular$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{15\}\{|$l$|\}\{$Purchases:$\}\backslash \backslash$

$\backslash$hline December $7$ & $8$ & $\backslash$$ & $20\mathrm{.}00$ & $\backslash$$ & $160$ & & & & & & & & & $\backslash \backslash$

$\backslash$hline December $14$ & $17$ & $\backslash$$ & $30\mathrm{.}00$ & & $510$ & & & & & & & & & $\backslash \backslash$

$\backslash$hline December $21$ & $15$ & $\backslash$$ & $36\mathrm{.}00$ & & $540$ & & & & & & & & & $\backslash \backslash$

$\backslash$hline Total & $40$ & $\backslash$$ & $30\mathrm{.}25$ & $\backslash$$ & $1,210$ & $0$ & & $\backslash$$ & $0\mathrm{.}00$ & $0$ & $\backslash$$ & $0\mathrm{.}00$ & $\backslash$$ & $0\mathrm{.}00\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}!$

Required information

Use the following information for the Quick Study below. $($Algo$)(15-18)$

$[$The following information applies to the questions displayed below.$]$

Trey Monson starts a merchandising business on December $1$ and enters into the following three inventory purchases. Monson uses a periodic inventory system. Also, on December $15,$ Monson sells $15$ units for $\backslash (\backslash$$ $50\backslash )$ each.

$\backslash$begin$\{$tabular$\}\{$lr$\}$

Purchases on December $7$ & $8$ units @ $\backslash (\backslash$$ $20\mathrm{.}00\backslash )$ cost $\backslash \backslash$

Purchases on December $14$ & $17$ units @ $\backslash (\backslash$$ $30\mathrm{.}00\backslash )$ cost $\backslash \backslash$

Purchases on December $21$ & $15$ units @ $\backslash (\backslash$$ $36\mathrm{.}00\backslash )$ cost

$\backslash$end$\{$tabular$\}$

QS $6-15$A $($Algo$)$ Periodic: Inventory costing with FIFO LO P$3$

Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method.

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{13\}\{|$c$|\}\{$Periodic FIFO:$\}\backslash \backslash$

$\backslash$hline & $\backslash$multicolumn$\{5\}\{|$c$|\}\{$Goods Available for Sale$\}$ & $\backslash$multicolumn$\{3\}\{|$r$|\}\{$Cost of Goods Sold$\}$ & $\backslash$multicolumn$\{4\}\{|$c$|\}\{$Ending Inventory$\}\backslash \backslash$

$\backslash$hline & $\backslash$# of units & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Cost per unit$\}$ & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Cost of Goods Available for Sale$\}$ & $\backslash$# of units sold & Cost per unit & Cost of Goods Sold & $\backslash$# of units in ending inventory & Cost per unit & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Ending Inventory$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{13\}\{|$l$|\}\{$Purchases:$\}\backslash \backslash$

$\backslash$hline December $7$ & $8$ & $\backslash$$ & $20\mathrm{.}00$ & $\backslash$$ & $160$ & & & & $0$ & & & $\backslash \backslash$

$\backslash$hline December $14$ & $17$ & & $30\mathrm{.}00$ & & $510$ & & & & $17$ & $\backslash$$ $30\mathrm{.}00$ & $\backslash$$ & $510\backslash \backslash$

$\backslash$hline December $21$ & $15$ & & $36\mathrm{.}00$ & & $540$ & & & & $8$ & $36\mathrm{.}00$ & & $288\backslash \backslash$

$\backslash$hline Total & $40$ & & & $\backslash$$ & $1,210$ & & & & $25$ & & $\backslash$$ & $798\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$