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 $40 each. Purchases on December 7 10 units Purchases on December 14 Purchases on December 21 20 units 15 units $26.00 cost $32.00 cost $34.00 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. Purchases: December 7 December 14 December 21 Total Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods # of # of units Cost per Cost Cost of # of units Available for unit Sale units sold per unit Goods Sold in ending inventory Cost per Ending unit Inventory