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 selts 15 units for $26 each. Parchanes on Decenber? 10 unite 4$12,00 eost Burehases on pecember 14. 20 units | \$18.00 qest. Parobanes on Decetber 21 15. unita 8.20.00 eost. 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