Use the following information for the Quick Study below. (Algo) (11-14) [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 perpetual inventory system. Also, on December 15, Monson sells 15 units for $22 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $8.00 cost 20 units @ $14.00 cost 15 units @ $16.00 cost
Use the following information for the Quick Study below. (Algo) (11-14) [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 perpetual inventory system. Also, on December 15, Monson sells 15 units for $22 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $8.00 cost 20 units @ $14.00 cost 15 units @ $16.00 cost
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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please complete this with working and show how did ou get the number with other work answer in text thanks
![Required information
Use the following information for the Quick Study below. (Algo) (11-14)
[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 perpetual inventory system. Also, on December 15, Monson sells 15 units for $22 each.
Purchases on December 7
Purchases on December 14
Purchases on December 21
QS 5-13 (Algo) Perpetual: Inventory costing with weighted average LO P1
Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method.
Note: Round your per unit costs to 2 decimal places.
December 7
Date
December 14
Average cost December 14
December 15
December 21
Average cost December 21
Totals
10 units @ $8.00 cost
20 units @ $14.00 cost
15 units @ $16.00 cost
# of
units
Weighted Average - Perpetual:
Goods purchased
Cost per unit Inventory Value
# of
units
sold
Inventory Balance
Cost per Cost of Goods # of units Cost per unit
Sold
unit
Cost of Goods Sold
Inventory
Balance](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7130c8a-7567-457f-b07a-077b790edc0b%2F45aed44c-3a89-49fc-9648-9dc117759a9e%2Fwmma0vj_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
Use the following information for the Quick Study below. (Algo) (11-14)
[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 perpetual inventory system. Also, on December 15, Monson sells 15 units for $22 each.
Purchases on December 7
Purchases on December 14
Purchases on December 21
QS 5-13 (Algo) Perpetual: Inventory costing with weighted average LO P1
Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method.
Note: Round your per unit costs to 2 decimal places.
December 7
Date
December 14
Average cost December 14
December 15
December 21
Average cost December 21
Totals
10 units @ $8.00 cost
20 units @ $14.00 cost
15 units @ $16.00 cost
# of
units
Weighted Average - Perpetual:
Goods purchased
Cost per unit Inventory Value
# of
units
sold
Inventory Balance
Cost per Cost of Goods # of units Cost per unit
Sold
unit
Cost of Goods Sold
Inventory
Balance
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