Required information Use the following information for the Quick Study below. (Algo) (11-14) The following information applies to the questions displayed below.) Trey Morson starts a merchendising business on December f and enters into the following three inventory purchases Monson uses a perpetual inventory system Also on December 15, Monson selfs th units for $39 each. 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 trom the December 14 purchase. Determine the costs assigned to enating inventory when costs are assigned bosed on specitic identification Trey Monson starts a merchandising busteness on December 1 and enters into the following three irwentory purctuises. Monson uses a perpetual inventory system Also, on December is, Monsor selis 15 units for $39 esch QS 5-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 Or the units sold: 8 ae from the December 7 purchase and 7 are from the Docember 14 purchase. Determine the costs assajned to ending fiventory when costs are assigned based on specilic identificotion