Required information Use the following information for the Quick Study below. (Algo) (11-14) [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 perpetual inventory system. Also, on December 15, Monson sells 15 units for $25 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 20 10 units $11.00 cost units $17.00 cost 15 units $19.00 cost QS 5-11 (Algo) Perpetual: Assigning costs with FIFO LO P1 Required: Determine the costs assigned to the December 31 ending inventory based on the FIFO method. Perpetual FIFO: Cost of Goods Sold Goods Purchased of Units Sold Cost Per Cost of Goods Unit Sold Inventory Balance Cost Per of Units Unit Inventory Balance Goods Purchased Date # of Units Cost Per Unit December 7 December 14 Total December 14 December 15 Total December 15 December 21 Totals F2 80 F3 # 3 @2 $4 F4 < Prev FS 5 6 of 20 Next > MacBook Air 45 % 6 F6 0 27 87 & 8 omework Assignment Saved Required information Use the following information for the Quick Study below. (Algo) (11-14) [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 perpetual inventory system. Also, on December 15, Monson sells 15 units for $25 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units $11.00 cost 20 units 15 units $17.00 cost $19.00 cost. QS 5-12 (Algo) Perpetual: Inventory costing with LIFO LO P1 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Perpetual LIFO: Goods purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit Cost of Goods Available for # of units Cost per Cost of Goods unit Sold # of units Sale sold Cost per Inventory unit Balance $ 0.00 $ 0.00 December 7 December 14 Total December 14 December 15 Total December 15 December 21 Totals 0.00 $ 0.00 Required information. Use the following information for the Quick Study below. (Algo) (11-14) [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 perpetual inventory system. Also, on December 15, Monson sells 15 units for $25 each. Purchases on December 7 Purchases on December 14 Purchases on December 21. 10 units $11.00 cost 20 units $17.00 cost 15 units $19.00 cost QS 5-13 (Algo) Perpetual: Inventory costing with weighted average LO P1 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 Cost of Goods Sold Inventory Balance # of Date #of units Cost per unit Inventory Value units Cost per Cost of Goods unit Sold # of units Cost per unit sold Inventory Balance December 7 December 14 Average cost December 14 December 15 December 21 Average cost December 21 Totals Required information Use the following information for the Quick Study below. (Algo) (11-14) [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 perpetual inventory system. Also, on December 15, Monson sells 15 units for $25 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units $11.00 cost 20 units @ $17.00 cost 15 units $19.00 cost QS 5-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 Of the units sold, 8 are from the December 7 purchase and 7 are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification. Purchases: December 7 December 14 December 21 Total Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units sold # of units Cost Cost of per unit Goods Sold in ending Inventory Cost per Ending. unit Inventory