Question

Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 28 units for $10 each.
  

Purchases on December 7	18 units @ $4.00 cost
Purchases on December 14	35 units @ $6.00 cost
Purchases on December 21	28 units @ $7.00 cost

Required information #of #of Units Cost Per Unit |Cost Per Unit Goods Cost Per Cost of Date # of Units Purchased U Unit Goods Sold ! Balance Sold December 7 18 @| S 4.00 = | $ 72.00 18S 4.00 72.00 December 14 35S 6.00210.00 35 4.00140.00 5 140.00 December 15 28 10.00280.00 25 4.00100.00 December 21 28S 7.00S196.00 53 7.00S 371.00 Totals S 280.00 S 371.00

  

Answer 1