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Required 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 inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 30 units for $50 each. Purchases on December 7 20 units @ $20.00 cost Purchases on December 14 34 units @ $30.00 cost Purchases on December 21 30 units @ $36.00 cost Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method (Round your per unit costs to 2 decimal places.) Inventory Balance #of units Cost per unit Inventory Balance Date Weighted Average Perpetual Goods purchased Cost of Goods Sold #of Cost per unit Inventory Value units Cost per Cost of Goods unit Sold sold $ 0.00 # of units December 7 ces $ 0.00 December 14 $ 0,00 Average cost December 14 oody December 15 $ 0.00 December 21 Average cost December 21 Totals $ 0.00 ! Required information [The following information applies to the questions displayed below.) 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 15, Monson sells 30 units for $50 each. Purchases on December 7 20 units @ $20.00 cost Purchases on December 14 34 units @ $30.00 cost Purchases on December 21 30 units @ $36.00 cost Of the units sold, 16 are from the December 7 purchase and 14 are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification, Specific Identification Goods Available for Sale Cost of Goods Sold #of Cost of Goods Cost per # of units Cost Cost of unit Available for units Sale sold per unit Goods Sold Ending Inventory # of units in ending Cost per Ending unit Inventory Inventory $ 0 0 Purchases: December 7 December 14 December 21 Total $0.00 $ 0.00 0 0 $ 0.00 $ 0.00 0.00 $ Oo oo 0 0 $ 0 0 $ 0 0

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