! 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 perpetual inventory system. Also, on December 15, Monson sells 30 units for $35 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units @ $14.00 cost 36 units @ $21.00 cost 30 units @ $25.00 cost of the units sold, 16 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. Specific Identification Goods Available for Sale Cost of Goods Sold Cost of Goods # of Cost per Cost # of units units Cost of Available for unit sold per unit Goods Sold Sale Ending Inventory # of units in ending Cost per Ending unit inventory Inventory Purchases: December 7 December 14 December 21 Total