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 $31 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $17.00 cost 20 units @ $23.00 cost 15 units @ $25.00 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. Purchases: December 7 December 14 December 21 Total Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per Cost of Goods Available for # of Cost units unit sold per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory Sale