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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 $$27$ each.

$\backslash$table$[[$Purchases on December $7,10$ units @ $$13\mathrm{.}00$ cost$],[$Purchases on December $14,20$ units @ $$19\mathrm{.}00$ cost$],[$Purchases on December $21,15$ units @ $$21\mathrm{.}00$ cost$]]$

QS $5-14($Algo$)$ Perpetual: Inventory costing with specific identification LO P$1$

Of the units sold, $8$ are from the December $7$ purchase and $7$ are from the December $14$ purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification. Create a chart and fill in the answers