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 15 units for $40 each. Purchases on December 7 Purchases on December 14 10 units @ $26.00 cost 20 units @ $32.00 cost Purchases on December 21 15 units @ $34.00 cost QS 5-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 Of 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. > Answer is not complete. Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Cost # of Cost of Goods # of per units Cost per Cost of Goods # of units Cost Ending units Available unit sold unit Sold in ending inventory per unit Inventory for Sale Purchases: $ December 7 10 $ 260 26.00 December 14 20 32.00 640 December 21 15 34.00 510 Total 45 $ 1,410 0 $ $ 0 26.00 32.00 0 $ $ 0 26.00 32.00 0 34.00 0 $ 0 0 $ 0