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Question: trey monson starts a merchandising business on december 1 and...

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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


  

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