00:43:29 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 15 units for $23 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units 20 units $9.00 cont $15.00 cost 15 units $17.00 cost QS 6-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 Of the units sold, 13 are from the December 7 purchase and 15 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 Cost of Goods Sold Cost per Cost of Goods #of # of units Available for unit Sale units sold Cost Cost of per unit Goods Sold Ending Inventory # of units in ending inventory Cost per Ending unit Inventory Purchases: December 7 10 $ 9.00 $ 90 13 $9.00 $ 117 0 $ 9.00 $ 0 December 14 20 15.00 300 15 15.00 225 5 15.00 75 December 21 15 17.00 2551 17.00 0 Total 45 S 645 28 $ 342 5 $ 75