Required information Use the following information for the Quick Study below. Trey Monson starts a...
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Required information Use the following information for the Quick Study below. 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 Decenber 7 Purchases on Decenber 14 Purchases on December 21 1e units s 6.ee cost 2e units $12.e cost 15 units $14.00 cost os 5-11 Perpetual: Inventory costing with LIFO LO P1 Required Monson sells 15 units for $20 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on LIFO Perpetual LIFO; Goods purchased Cost of Goods Sold Inventory Balance Cost of Cost per Goods #of units #of units Cost per Cost Goods soldunit tof Goods! #Of units units Cost per Inventory Balance Date lee unit unit Available for Sold Sale earch
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