Question: Required information Use the following information for the Quick Study below (Static) (15-18) [The following information applies to the questions displayed below.] Trey Monson

Required information Use the following information for the Quick Study below (Static)(15-18) [The following information applies to the questions displayed below.] Trey Monson

Required information Use the following information for the Quick Study below (Static) (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 $20 each Purchases on December 7 Purchases on December 14 10 units $ 6 cost 20 units $12 cost Purchases on December 21 15 units $14 cost QS 5-17A (Static) Periodic: Inventory costing with weighted average LO P3 Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round cost per units to 2 decimal places.)

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