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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 28 units for $10 each. Purchases on December 7 18 units $4.00 cost Purchases on December 14 35 units $6.00 cost Purchases on December 21 28 units @ $7.00 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 14 are from the December 14 purchase Determine the costs assigned to ending inventory when costs are assigned based on specific identification QS 5-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 Of the units sold, 14 are from the December 7 purchase and 14 are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification Ending Inventory Specific identification Goods Available for Sale Cost of Goods Sold Cost of Goods # of Cost per Cost Cost of of units Available for unit units per unit Goods Sold Sale sold #of units in ending inventory Cost per Ending unit Inventory Purchases December 7 December 14 December 21 Total