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 15 units for $20 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 unita $ 6.00 cost 20 units @ $12.00 cost 15 units $14.00 cost QS 6-13 Perpetual: Inventory costing with specific identification LO P1 Required: Monson sells 15 units for $20 each on December 15. of the units sold, eight are from the December 7 purchase and seven 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 Inventory Balance Specific Identification-Perpetual: Goods purchased Cost per Date # of units unit Cost of Goods Sold # of Cost of Cost per units unit Goods Sold sold # of units Cost per unit Inventory Balance C 4 Required: Monson sells 15 units for $20 each on December 15. Of the units sold, eight are from the December 7 purchase and seven 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 Specific Identification - Perpetual Goods purchased Cost per Date # of units unit Cost of Goods Sold # of Cost per Cost of units unit Goods Sold sold Inventory Balance # of units Cost per Inventory unit Balance December 7 $ 0.00 December 14 $ 0.00 $ 0.00 December 15 $ $ 0.00 0.00 December 21 $ 0.00 Totals