Required information Use the following information for the Quick Study below (Static) (15-18) [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 periodic inventory system. Also, on December 15, Monson sells 15 units for $20 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units $6 cost 20 units @ $12 cost 15 units $14 cost QS 5-18A (Static) Periodic: Inventory costing with specific identification LO P3 Of the units sold eight are from the December 7 purchase and seven are from the recember 14 purchase Determine the costs