Check my work Trey Monson starts a merchandising business on December 1 and enters into...
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Check my work Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 15 units for $20 each. Purchases on December 7. Purchases on December 14 Purchases on December 21 10 units @ $ 6.00 cost 20 units e $12.00 cost 15 units @ $14.00 cost QS 6-10 Perpetual: Assigning costs with FIFO LO P1 Required: Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending Inventory based on the FIFO method. Perpetual FIFO: Goods Purchased Cost Per Goods Unit Purchased Cost of Goods Sold #of Cost Per Cost of Goods Units Unit Sold Sold Inventory Balance Cost Per Inventory #of Units Unit Balance #of Units Date December 7 December 14 Prey 4 of 7 ::: Next > Check my work Required: Monson uses a perpetual Inventory system. Determine the costs assigned to the December 31 ending inventory based on the FIFO method. Perpetual FIFO: # of Units Goods Purchased Cost Per Goods Unit Purchased Cost of Goods Sold #of Cost Per Cost of Goods Units Unit Sold Sold Inventory Balance Cost Per of Units Inventory Unit Balance Date December 7 December 14 December 15 December 21 Totals
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