13 Part 4 of 4 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 30 units for $40 each. 2 points Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units @ $16.00 cost 35 units @ $24.00 cost 30 units @ $29.00 cost Required: Monson sells 30 units for $40 each on December 15. of the units sold, 16 are from the December 7 purchase and 14 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 Answer is complete but not entirely correct. Specific Identification-Perpetual: Goods purchased Cost Date of units unit Cost of Goods Sold Cost Cost of per Goods Sold unit # of units sold Inventory Balance Cost per Inventory unit Balance per of units Mc Graw Mill Return to question - Anwer is GOUE BOE nes correct. 13 Required information #of Part 4 of 4 of units Cost per unit units Cost per unit Date scember Cost of Goods Sold # of units Cost per unit Inventory Balance sold 20 16.00 320.00 20 = 16.00 . $ 320,00 2 points scember 35 20 24.00 840.00 16.00 $ 320,00 840.00 24.00 1.160,00 scember $256.00 55 1600 14 16.00 16.00 $ 880.00 $336.00 oba 24.00 24.00 $ 880,00 scember 300 29.00 03 870.00 16.00 0 0 24.00 S 29.00 tals $592.00 ME Graw HIN