Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 25 units for $45 each.

Purchases on December 715 units @ $18.00 costPurchases on December 1430 units @ $27.00 costPurchases on December 2125 units @ $32.00 cost

Required:

Monson sells 25 units for $45 each on December 15. Of the units sold, 12 are from the December 7 purchase and 13 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.