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Required information [ The following information applies to the questions displayed below. ] Trey Monson starts a merchandising business on December 1 and enters into

Required information
[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 periodic inventory system. Also, on December 15, Monson sells 15 units for $50 each.
Purchases on December 7
Purchases on December 14
Purchases on December 21
8 units @ $20.00 cost
17 units @ $30.00 cost
15 units @ $36.00 cost
Of the units sold, 6 are from the December 7 purchase and 4 are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification.
\table[[Specific Identification],[,Goods Available for Sale,Cost of Goods Sold,Ending Inventory],[,\table[[Number of],[units]],\table[[Cost per],[unit]],\table[[Cost of Goods],[Available for],[Sale]],\table[[Number],[of units],[sold]],\table[[Cost],[per unit]],\table[[Cost of],[Goods Sold]],\table[[Number of],[units in],[ending],[inventory]],\table[[Cost per],[unit]],\table[[Ending],[Inventory]]],[Purchases:,,,,,,,,,],[December 7,,,,,,,,,],[December 14,,,,,,,,,],[December 21,,,,,,,,,],[Total,4,,,,,,,,]]
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