Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a periodic inventory system. Also, on December 15, Monson sells 15 units for $20 each, Purchases on December 7 Purchases on December 14 Purchases on December 21 10 unito e $ 6 cost 20 units @ $12 cost 15 units $14 cost QS 5-14 (Static) Periodic: Inventory costing with specific identification LO P1 Monson sells 15 units for $20 each of the units sold, eight are from the December 7 purchase and seven are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification Specific Identification Cost of Goods Available for Sale Cost of Goods Cost per #of units Available for unit Sale Cost of Goods Sold # of units Cost Cost of sold per unit Goods Sold Inventory Balance #of units in ending Cost per Ending unit Inventory Inventory 48 Purchases: December 7 December 14 December 21 Total 8 $ 6.00 $ 7 12.00 12 158 84 10 $ 6.00 $ 20 12.00 15 14.00 45 $ 60 240 210 510 2 $ 6.00 $ 13 12.00 14.00 15 $ 0 168 15 $ 132