Required information Use the following information for the Quick Study below..... Trey Monson starts a merchandising business on December 1 and enters into three Inventory purchases: Purchases on December Purchases on December 14 Purchases on December 21 18 units $14.28 cost 33 units $21. cost 28 units @ $25.ee cost QS 5-14A Periodic: Inventory costing with FIFO LO P3 Required: Monson sellis 29 units for $35 each on December 15. Assume the periodic Inventory system is used. Determine the costs assigned to the December 31 ending Inventory when costs are assigned based on FIFO. Periodic FIFO: Cost of Goods Available for Sale Cost per Cost of Goods # of units unit Available for Sale Cost of Goods Sold Inventory Balance # of Cost # of units Cost of Cost Ending units sold per unit Goods Sold in ending inventory per unit Inventory Purchases: December 7 December 14 December 21 Total Required Information Use the following information for the Quick Study below... Trey Monson starts a merchandising business on December 1 and enters into three Inventory purchases: Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units $14.88 cost 33 units $21.a cost 28 units $25.02 cost QS 5-15 Periodic: Inventory costing with LIFO LO P3 Required: Monson seis 28 units for $35 each on December 15. Assume the periodic Inventory system is used. Determine the costs assigned to ending Inventory when coses are assigned based on the LIFO method. Periodic LIFO: Cost of Goods Available for Sale Cost of Goods # of units Cost per Available for unit Sale Cost of Goods Sold # of units Cost Cost of sold per unit Goods Sold Inventory Balance # of units Cost Ending in ending inventory per unit Inventory Purchases: December 7 December 14 December 21 Total Required Information Use the following information for the Quick Study below..... Trey Monson starts a merchandising business on December 1 and enters into three Inventory purchases: Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units $14.a cast 33 units $21.a cost 28 units @ $25.a cost QS 5-16A Perlodic: Inventory costing with welghted average LO P3 Required: Monson sells 28 units for $35 each on December 15. Assume the periodic Inventory system is used. Determine the costs assigned to ending Inventory when costs are assigned based on the weighted average method. (Amounts to be deducted should be Indicated with a minus sign. Round cost per units to 2 decimals.) Periodic Weighted Average Inventory on hand Cost of Goods Sold Cost per # of units Inventory # of units Avg.Cost per Cost of unit Value sold unit Goods Sold Purchase - December 7 Purchase - December 14 Purchase - December 21 Available for Sale December Sales Total