Monsom sells 27 units for $20 each on December 15. Monson uses a perpetual inventory system. Determine the cost assigned to ending inventory when costs are assigned based on specific identification.

Use the following information for the Quick Study below. Trey Monson starts a merchandising business on December and enters into the following three inventory purchases Also on December 15. Monson sells 27 units for $20 each Purchases on December 7 Purchases on December 14 Purchases on December 21 17 LES $8.00 COSE 34 its $12.00 cost 27 units 514. cost QS 5-13 Perpetual: Inventory costing with specific identification LO P1 Required: Monson sells 27 units for $20 each on December 15. Of the units sold. 14 are from the December 7 purchase and 13 are from the December 14 purchase. Monson uses a perpetuo inventory system Determine the costs assigned to the December 31 ending Inventory when costs are assigned based on specite identification Specific identification Perunt: Goods norchased Cost of Goods Date of units Cost per unit Corper costos Sot ons Cost per TOY Bance Inventor ant SO100 100 ce December 20s 800 SLO 51200 1200 03 DO