Seved Help Save & Exit Subm Check my work Required information Use the following information for the Quick Study below. (Static) (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 $20 each Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units 56 cost 20 units 512 cost 15 units 514 cost QS 5-14 (Static) Perpetual: Inventory costing with specific identification LO P1 Of the units sold. eight are from the December 7 purchase and seven are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification Specific Identitication Goods Available for Sale Cost of Goods Sold Cost of Goods of # of units Available for Cost Cost of unit units Sale sold per unit Goods Sold Cost per Ending Inventory of units in ending Cost per Ending unit Inventory Inventory Purchases December 7 December 14 December 21 Total 0 10 $ 6.00 $ 20 1200 15 15.00 45 $ 0 60 240 225 525 $ 6.00 $ 12.00 0 $ 6.00 5 12.00 15 00 5 0 0 $ 0 0 0