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Required information Use the following information for the Quick Study below. (Algo) (11-14) [The following...

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Accounting

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Required information 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. Trey Monson starts a merchandising business on December 1 and enters into the folls 15 units for $35 each. Monson uses a perpetual irventory system. Also, on December 15 . Monson sell 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

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