Required information Use the following information for the Quick Study below. Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 27 units for $20 each Purchases on December 7 Purchases on December 14 Purchases on December 21 17 units 34 units 27 units $8.00 cost $12.00 cost $14.00 cost QS 6-13 Perpetual: Inventory costing with specific identification LO P1 QS 6-13 Perpetual: Inventory costing with specific identification LO P1 Required: Monson sells 27 units for $20 each on December 15. Of the units sold, 14 are from the December 7 purchase and 13 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. Cost of Goods Sold Inventory Balance Specific Identification-Perpetual: Goods purchased Date #of Cost per units unit units sold Cost per Cost of Goods unit Sold of unite Cost per unit Inventory Balance December 7 17 @ $ 8.00 = $136.00 $ 0.00 December 14 $ 0.00 December 15 $ $ 0.00 0.00 December 21 $ 14.00 $ 0.00 Totals