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 $50 each.

Purchases on December 7	8 units @ $20.00 cost
Purchases on December 14	17 units @ $30.00 cost
Purchases on December 21	15 units @ $36.00 cost

Of the units sold, 6 are from the December 7 purchase and 4 are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification.

Carlton Company uses the percent of sales method to estimate its bad debt expense. Based on past experience, the company estimates 2 percent of credit sales to be uncollectible. At the end of the current year, the company's unadjusted trial balance shows Accounts Receivable of $245,000 and Credit Note: Enter debits before credits. Carlton Company uses the percent of sales method to estimate its bad debt expense. Based on past experience, the company estimates 2 percent of credit sales to be uncollectible. At the end of the current year, the company's unadjusted trial balance shows Accounts Receivable of $245,000 and Credit Note: Enter debits before credits