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Trey Monson starts a merchandising business on December and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December Monson sells units for $ each.
Purchases on December
Purchases on December
Purchases on December
units $ cost
units $ cost
units $ cost
Of the units sold, are from the December purchase and are from the December purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification.
tableSpecific IdentificationGoods Avallable for Sale,Cost of Goods Sold,Ending Inventory# of units,tableCost perunittableCost of GoodsAvailable forSaletable# ofunitssoldtableCostper unittableCost ofGoods Soldtable# of unitsin endinginventorytableCostper unittableEndingInventoryPurchases:Decomber December December Tolal
