Required information Use the following information for the Quick Study below. Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also on December 15, Monson sells 29 units for $45 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 19 units @ $18.00 cost 35 units @ $27.00 cost 29 units @ $32.00 cost QS 5-13 Perpetual: Inventory costing with specific identification LO P1 Required: Monson sells 29 units for $45 each on December 15. Of the units sold, 15 are from the December 7 purchase and 14 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 Specific Identification-Perpetual: Goods. purchased Cost of Goods Sold # of units Cost per Cost of unit sold Goods Sold Inventory Balance Cost per Inventory # of units unit Balance Date of units Cost per unit December 7 December 14 December 15 QS 5-13 Perpetual: Inventory costing with specific identification LO P1 Required: Monson sells 29 units for $45 each on December 15. Of the units sold, 15 are from the December 7 purchase and 14 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. Specific Identification-Perpetual: Goods purchased Date Cost per #of units unit December 7 December 14 Cost of Goods Sold # of Cost per Cost of units sold Goods Sold Inventory Balance Cost per Inventory #of units unit Balance unit December 15 December 21 Totals