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Required information Use the following information for the Quick Study below. (Algo) (11-14) [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 $40 each. Purchasem on Dectmber? 10 unita $26.00 aont Purchases on December 1420 units $32.00 cost Purehasea on Decenber 21 15 unite $34.00 cont QS 5-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 Of the units sold, 8 are from the December 7 purchase and 7 are from the December 14 purchase. Deternine the costs assigned to ending inventory when costs are assigned based on specific identificotion