Required information Use the following information for the Quick Study below. (Algo) (11-14) [The following information applies to the questions displayed belowi] 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 $29 each. Purchases on December 710 units $15.00 cost Purchases on Decenber 1420 units $21.80 cost Purchases on Decenber 2115 units e $23.00 cost QS 5-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 If 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. QS 5-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 Of the units soid, 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