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[ The following information applies to the questions displayed below. ] Trey Monson starts a merchandising business on December 1 and enters into the following

[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.
\table[[Purchases on December 7,10 units @$17.00 cost],[Purchases on December 14,20 units @$23.00 cost],[Purchases on December 21,15 units @ $25.00 cost]]
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.
\table[[Specific Identification],[,Goods Available for Sale,Cost of Goods Sold,Ending Inventory],[,# of units,\table[[Cost per],[unit]],\table[[Cost of Goods],[Available for],[Sale]],\table[[# of],[units],[sold]],\table[[Cost],[per unit]],\table[[Cost of],[Goods Sold]],\table[[# of units],[in ending],[inventory]],\table[[Cost],[per unit]],\table[[Ending],[Inventory]]],[Punchases:,,,,,,,,,],[December 7,,r,,,,,,,],[December 14,,P,,,,,,,],[December 21,,,,,,,,,],[Total,,,,,,,,,]]
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