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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 $34 each.
Purchases on December 7
Purchases on December 14
Purchases on December 21
10 units @ $20.00 cost 20 units @ $26.00 cost
15 units @ $28.00 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 basted on specific identification.
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