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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Concept explainers

Pricing

Pricing is used as a term in finance and economics, pricing is the process of fixing a value for a product or a service. Pricing establishes a value for a product or service that the customer has to pay. A business can choose from different strategies while deciding to set prices.

Question

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What's the cost per unit? tysm in advance!!

Requlred Informatlon
[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 perlodic Inventory system. Also, on December 15, Monson sells 15 units for $20 each.
10 units e $ 6 cost
20 units e $12 cost
15 units @ $14 cost
Purchases on December 7
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
unlts to 2 decimal places.)
Answer is complete but not entirely correct.
Weighted average - Periodic
Goods Available for Sale
Cost of Goods Sold
Ending Inventory
Cost of
Goods
Available
for Sale
Cost of
Goods
Sold
# of
Average
Cost per
Unit
# of units
in ending
inventory
Average
Cost per
unit
# of
units
Cost per
units
sold
Ending
Inventory
unit
Purchases:
December 7
10
6.00
60
December 14
20
12.00
240
December 21
15
14.00
210
Total
45
1.40
S
510
15
S
11.33
$ 169.95
30
S
11.33
S 339.90

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