to the questionsig business on Decembere inventory purchases.y system. Also, ons for $35 each.units @ $21.00 costunits @ $27.00 costunits @ $29.00 costthe December 31 endingthod.Perpetual FIFO:isedCost of Goods Sold# ofInventory BalanceGoodsCost Per Cost of GoodsCost PerInventoryUnits# of UnitsPurchasedUnitSoldUnitBalanceSold Required information[The following information applies to the questionsdisplayed below.]Trey Monson starts a merchandising business on December1 and enters into the following three inventory purchases.Monson uses a perpetual inventory system. Also, onDecember 15, Monson sells 15 units for $35 each.Purchases on December 710 units @ $21.00 cost20 units @ $27.00 cost15 units @ $29.00 costPurchases on December 14Purchases on December 21Required:Determine the costs assigned to the December 31 endinginventory based on the FIFO method.Perpetual FIFO:Cost of Goods Sold# ofGoods PurchasedDateCost PerGoodsCost Per Cost of (# of UnitsUnitsUnitPurchasedUnitSolSoldDecember 7December 14Total December 14December 15Total December 15December 21Totals

Name: to the questionsig business on Decembere inventory purchases.y system
Uploaded: 2024-03-20T06:32:37.000Z
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Description: to the questionsig business on Decembere inventory purchases.y system. Also, ons for $35 each.units @ $21.00 costunits @ $27.00 costunits @ $29.00 costthe December 31 endingthod.Perpetual FIFO:isedCost of Goods Sold# ofInventory BalanceGoodsCost Per