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Determine the costs assigned to ending inventory

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Reference no: EM132158298

Question - Perpetual: Inventory costing with weighted average

Required Information - Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases.

Purchases on December 7

17 units @ $8.00 cost

Purchases on December 14

34 units @ $12.00 cost

Purchases on December 21

27 units @ $14.00 cost

Required: Monson sells 27 units for $20 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method.

Reference no: EM132158298

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