Required information Use the following information for the Quick Study below. (Algo) (11-14) [The following information applies to the questions displayed below] 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 30 units for $25 each. QS 5-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 Of the units sold, 16 are from the December 7 purchase and 14 are from the December 14 purchase. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on specific idertification