Required information Use the following information for the Quick Study below. (Algo) (11-14) [The foliowing 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 \$34 each. QS 5-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 Or 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 identufication