Required information Use the following information for the Quick Study below (Static) [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 Purchases on December 21 10 units @ $ 6 cost 20 units @ $12 cost 15 units @ $14 cost QS 5-13 (Static) Periodic: Inventory costing with weighted average LO P1 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 Cost per Purchase - December 7 Purchase - December 14 Purchase - December 21 Available for Sale December Sales Inventory on hand Cost of Goods Sold # of units Inventory # of units Avg. Cost per Cost of unit Value sold unit Goods Sold 10 $ 6.00 $ 60 20 12.00 240 15 14.00 210 45 510 (15) 0 15 $ 0.00 0 30 $ 510 15 $ 0 Total