Determine the cost assigned to ending inventory when cost are assigned based on specific identification.

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 27 units for $40 each Purchases on Decenber? Purchase on December 14 Purchases on December 21 17 units. $16.00 cost 33 units 024.00 cost 27 units $29.00 cost QS 5-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 of the units sold, 14 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 Cost of Goods Sold Cost per Cost of Goods Bof Cost of units unit Available for Cost of units Sale sold per unit Goods Sold Ending Inventory of units cost per Ending in ending unit Inventory Inventory Purchases: December 7 December 14 December 21 Total