Question: 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

Required information Use the following information for the Quick Study below. (Algo)

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 $27 each. Purchases on December- Purchases on December 14 Purchases on December 21 10 unite $13.00 cont 20 units 15 units $19.00 cost $21.00 cost OS 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.) Answer is complete but not entirely correct. Weighted Average Perpetual Goods purchased Cost of Goods Sold Inventory Balance Date of Cost # of units Cost of Goods Cost per unit Inventory Value units per of units Sold Cost per unit Inventory Balance sold unit 10 at $11.00-$110.00 11.000- $ 110.00 20 $19.00 $ 380.00 December 7 December 14 Average cost December December 15 December 211 Average cost December To 10 at 11.00 10 19.00 110.00 190.00 20 at $ 19.00 O $ 300.00 15 at $244.50 15 at $ 16.30- $244.50 16.30 15 at $21.00 O 315.00 150 15 at $ 16.30 21.00 . $ 244.50 315.00 30 21.00 - 630.00 5244.50 $ 630.00

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