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 $31 each. Purchases on December 7 Purchases on December 14 10 units @ $17.00 cost Purchases on December 21 20 units @ $23.00 cost 15 units @ $25.00 cost Of the units sold, eight are from the December 7 purchase and seven 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 Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of # of units units sold Cost Cost of per unit Goods Sold in ending Cost per Ending unit Inventory inventory Purchases: December 7 10 $ 17.00 $ 170 $17.00 $ 0 December 14 20 23.00 460 23.00 0 December 21 15 25.00 375 Total 45 $ 1,005 $17.00 $ 0 23.00 0 25.00 0 $ 0 $ 0