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 28 units for $50 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units $20.00 cost 32 units $30.00 cost 28 units $36.00 cost Required: Monson sells 28 units for $50 each on December 15. Of the units sold, 14 are from the December 7 purchase and 14 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 # of units Cost per unit cost ofGoods! # of units count cost per Cost per Inventory Balance Date unit Sold SO 18 20.00S 360.00 18 $ 20.00 360.00 32$ 30.00960.00 $1,320.00 December 7 18 $ 20.00$360.00 December 14 32| @? $ 30.00| -| $960.00 December 15 $ 0.00 $ 0.00 December 21 28$ 36.00 008.00 $20.00- 30.00 36.00- Totals