Requlred Information [The following Information applies to the questions displayed below.] Trey Monson starts a merchandising business on December 1 and enters Into the following three nventory purchases. Monson uses a perlodic inventory system. Also, on December 15, Monson sells 15 units for $20 each. Purchases on December 7 10 units e $ 6 cost 20 units ē $12 cost 15 units e $14 cost Purchases on December 14 Purchases on December 21 Determine the costs assigned to ending Inventory when costs are assigned based on the welghted average method. (Round cost per units to 2 decimal places.)

Requlred Information [The following Information applies to the questions displayed below.] Trey Monson starts a merchandising business on December 1 and enters Into the following three nventory purchases. Monson uses a perlodic inventory system. Also, on December 15, Monson sells 15 units for $20 each. Purchases on December 7 10 units e $ 6 cost 20 units ē $12 cost 15 units e $14 cost Purchases on December 14 Purchases on December 21 Determine the costs assigned to ending Inventory when costs are assigned based on the welghted average method. (Round cost per units to 2 decimal places.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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