Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 15 units for $20 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $ 6.00 cost 20 units @ $12.00 cost 15 units @$14.00 cost Required: Monson sells 15 units for $20 each on December 15. Of the units sold, eight are from the December 7 purchase and seven are from the December 14 purchase. Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending Inventory when costs are assigned based on specific identification. Specific Identification-Perpetual: Goods.purchased Cost of Goods Sold Inventory Balance #of Date # of units Cost per unit units sold Cost per Cost of Goods Sold unit of units Cost per unit Inventory Balance December 7 December 14