Required information 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 18 units $20.00 cost 32 units $30.00 cost 28 units @ $36.00 cost Required: Monson sells 28 units for $50 each on December 15. Assume the periodic inventory system is used. Determine the costs assigned 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 units to 2 decimals.)

Required information 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 18 units $20.00 cost 32 units $30.00 cost 28 units @ $36.00 cost Required: Monson sells 28 units for $50 each on December 15. Assume the periodic inventory system is used. Determine the costs assigned 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 units to 2 decimals.)

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Description: Please do not give solution in image format thanku Required informationTrey Monson starts a merchandising business on December 1 and enters into three inventory purchases:Purchases on December 7Purchases on December 14Purchases on December 21Required

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 4PB: The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are...

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