0 Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 27 units for $40 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 17 units @ $16.00 cost 33 units @$24.00 cost 27 units @ $29.00 cost Required: Monson sells 27 units for $40 each on December 15. Of the units sold, 14 are from the December 7 purchase and 13 are from the December 14 purchase. Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on specific identification. Specific Identification-Perpetual: Goods purchased Date # of units Cost per unit # of units sold December 7 December 14 December 15 December 21 Totals Cost of Goods Sold Cost per Cost of Goods unit Sold Inventory Balance # of units Cost per unit Inventory Balance