Required information Use the following information for the Quick Study below. Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 15 units for $20 each Purchases on December 7 Purchanes on December 14 Purchases on December 21 10 units 5 6.00 cost 20 units $12.00 cost | 15 units e $14.00 cost QS 5-12 Perpetual: Inventory costing with weighted average LO P1 Required: Monson sells 15 units for $20 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to ending Inventory when costs are assigned based on the weighted average method. Inventory Balance Cost of Goods Sold #of Cost per Cost of units unit Goods Sold sold Cost per Weighted Average - Perpetual: Goods purchased # of Cost per Date Inventory units unit Value December 7 $ 0.00 December 14 $ 0.00 #of units unit Inventory Balance nnn A ! Required: Monson sells 15 units for $20 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. Inventory Balance Weighted Average - Perpetual Goods purchased Dato # of Cost per Inventory units unit Value December 7 $ 0.00 December 14 $ 0.00 Cont of Goods Sold #of Cost per Cost of units sold unit Goods Sold of units Cost per unit Inventory Balance 0.00 Average cost December 15 December 21 $ 0.00 $ 0.00 4 Average cost Totals