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 15 units for $20 each. ook Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units $ 6.00 cost 20 units . $12.00 cost 15 units e $14.00 cost QS 6-13 Perpetual: Inventory costing with specific identification LO P1 ences Required: Monson sells 15 units for $20 each on December 15. Of the units sold, eight are from the December 7 purchase and seven 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. ok Cost of Goods Sold Inventory Balance Specific Identification Perpetual: Goods purchased # of Cost per Date units unit Cost per # of units sold Cost per Cost of Goods # of units unit Sold Inventory Balance unit 101 @ $ 6.00 = 60.00 December 7 101 @ $ 6.00] = $ 60.00 101 @ December 14 201 $240.00 $ 12.00] = $ 6.00 = $ 12.00 - 20 @ $ 60.00 240.00 $ 300.00 nces 8@ $ 6.00 $ 48.00 @ $ 6.00 = December 15 71 @ $ 12.00] = $ 84.00 @ $ 12.00 = December 21 151 @ $ 14.00 $210.00 $ 6.00 = $ 12.00 = $ 14.00 = 151 210.00 $ 210.00 $ 132.00 Totals