Ch 05 Homework v Part 4 of 4 Required information Use the following Information for the Quick Study below. Trey Monson starts a merchandising business on December 1 and enters into the following three Inventory purchases Also, on December 15, Monson sells 18 units for $10 each. 2.5 points Purchases on December 7 Purchases on December 14 Purchases on December 21 8 units $4.ee cost 26 units @ $6.ee cost 18 units .ee cost QS 5.13 Perpetual: Inventory costing with specific Identification LO P1 for 19 f. Required: Monson sells 18 units for $10 each on December 15. Of the units sold, 6 are from the December 7 purchase and 12 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 Dances Specific Identification Perpetual Goods purchased of Date of units Cost per unit Inventory Balance of Cost per Inventory units unit Balance Cost of Goods Sold Cost per Cost of Goods Sold units Sold unit Goods December December 15 11 . December 21 Totais QS 5.1 Inventory ownership LO C1 Homestead Crafts, a distributor of handmade gifts, operates out of owner Emma Finn's house. At the end of the current period, Emma looks over her inventory and finds that she has 900 units products) In her basement, 11 of which were damaged by water and cannot be sold. 150 units in her van, ready to deliver per a customer order, terms FOB desunaton 190 units out on consignment to a friend who owns a retail store How many units should Emma include in her company's period-end Inventory? Units in Ending Inventory: Units of Product on hand AD pools Tott en and inventory