Use the following information for the Quick Study below. (Algo) (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 $36 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 Total QS 5-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 Of 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 identification. Purchases: December 7 December 14 December 21 10 units @ $22.00 cost 20 units @ $28.00 cost 15 units @ $30.00 cost # of units Goods Available for Sale Specific Identification Cost per unit Cost of Goods Available for Sale Cost of Goods Sold # of units sold Cost Cost of per unit Goods Sold Ending Inventory # of units in ending inventory Cost per Ending unit Inventory

Use the following information for the Quick Study below. (Algo) (11-14) [The following information applies to the questions displayod 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 $36 each. Purchoses on Decenter 710 units e $22.00 cost Purchases on December 1420 units $28.60 cost Purchases on Decenber 2115 units e $30.00 cost QS 5-14 (Algo) Perpetual: Inventory costing with specific identification LO P1 Of the units soid, 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 identification