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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 perpetual inventory system. Also, on December 15, Monson sells 15 units for $25 each.
\table[[Purchases on December 7,10 units @$11.00 cost],[Purchases on December 14,20 units @$17.00 cost],[Purchases on December 21,15 units @$19.00 cost]]
Of the units sold, 8 are from the December 7 purchase and 7 are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification.
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