0 Required information Use the following information for the Quick Study below. (Algo) (11-14) [The following information applies to the questions displayed below.] Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 25 units for $45 each. Purchases on December 7 Purchases on December 14 Purchases on Decenber 21 15 units $18.00 cost 30 units $27.00 cost 25 units $32.00 cost QS 5-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 Of the units sold, 12 are from the December 7 purchase and 13 are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification. Specific Identification Goods Available for Sale Ending Inventory Cost of Goods Sold of units Cost per unit Cost of Goods Available for Sale of units sold Cost Cost of per unit Goods Sold of units Cost per Ending in ending Inventory unit Inventory Purchases: December 7 15 $ 18.00 $ 270 $18.00 $ $18.00 $ 0 December 14 30 27.00 810 27.00 27.00 0 December 211 25 32.00 800 32.00 0 Total 70 $ 1,880 0 S $ O