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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.
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