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 23 units for $30 each.

Purchases on December 7	13 units @ $12.00 cost
Purchases on December 14	30 units @ $18.00 cost
Purchases on December 21	23 units @ $22.00 cost

QS 5-14 (Algo) Periodic: Inventory costing with specific identification LO P1

Monson sells 23 units for $30 each. Of the units sold, 10 are from the December 7 purchase and 13 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 Sold			Inventory Balance
	# of units	Cost per unit	Cost of Goods Available for Sale	# of units sold	Cost per unit	Cost of Goods Sold	# of units in ending inventory	Cost per unit	Ending Inventory
Purchases:
December 7			$0		$0.00	$0		$0.00	$0
December 14			0		0.00	0		0.00	0
December 21			0					0.00	0
Total	0		$0	0		$0	0		$0