Requlred Informatlon Trey Monson starts a merchandising business on December 1 and enters into three inventory purchases: Purchases on December 7 Purchases on December 14 Purchases on December 21 16 units e $1e.00 cost 33 units @ $15.00 cost 26 units e $18.00 cost Required: Monson sells 26 units for $25 each on December 15. Assume the periodic inventory system is used. 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 unlts to 2 decimals.) Periodic Weighted Average Inventory on hand Cost of Goods Sold # of units Cost per unit Inventory Value # of units Avg.Cost per sold Cost of Goods Sold unit Purchase - December 7 Purchase - December 14 Purchase - December 21 Available for Sale December Sales Total
Requlred Informatlon Trey Monson starts a merchandising business on December 1 and enters into three inventory purchases: Purchases on December 7 Purchases on December 14 Purchases on December 21 16 units e $1e.00 cost 33 units @ $15.00 cost 26 units e $18.00 cost Required: Monson sells 26 units for $25 each on December 15. Assume the periodic inventory system is used. 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 unlts to 2 decimals.) Periodic Weighted Average Inventory on hand Cost of Goods Sold # of units Cost per unit Inventory Value # of units Avg.Cost per sold Cost of Goods Sold unit Purchase - December 7 Purchase - December 14 Purchase - December 21 Available for Sale December Sales Total
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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