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. Total Purchases on December 7 Purchases on December 14 Purchases on December 21 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 10 units @ $17.00 cost 20 units @ $23.00 cost 15 units @ $25.00 cost # of units Goods Available for Sale 10 20 15 45 Cost per unit $17.00 23.00 25.00 Specific Identification Cost of Goods Available for Sale $ $ 170 460 375 1,005 Cost of Goods Sold # of units sold 0 Cost Cost of per unit Goods Sold $17.00 $ 23.00 $ 0 0 0 Ending Inventory # of units in ending inventory 0 Cost per Ending Inventory unit $ 17.00 $ 23.00 25.00 $ 0 0 0 0

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. 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