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 28 units for $25 each. Part 4 of 4 Purchases on December 7 18 units @ $10.00 cost Purchases on December 14 35 units @ $15.00 cost 11.33/16.66 Purchases on December 21 28 units @ $18.00 cost points awarded 8 01:52:37 Required: Scored Monson sells 28 units for $25 each on December 15. Of the units sold, 14 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. Specific Identification-Perpetual: Goods purchased Cost of Goods Sold nventory Balance Cost Date # of units Cost Cost of Cost # of units per sold per Goods Sold # of units per Inventory unit unit unit Balance December 18 @ 10.00= 180.00 18 @ 10.00 = $ 180.00 December 14 35 @ 15.00= 525.00 18 0 @ 10.00 $ 180.00 35 @ 15.00 525.00 $ 705.00 December 15 18 3 @ 10.00= $ 180.00 18 @ 10.00 $ 180.00 10 * @ 15.00= $ 150.00 15 x @ 15.00 225.00 $405.00 December 21 280 @ 18.00 504.00 18 x @ 10.00 $ 180.00 10 x @ 15.00 150.00 28 @ 18.00 504.00 Totals $ 330.00 $ 834.00 Red text indicates no respor