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 6.00 cost 20 units $12.00 cost 15 units $14.00 cost QS 5-10 Perpetual: Assigning costs with FIFO LO P1 Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory based on the FIFO method PerpetualFIFO: #of Cost of Goods | Sold Cost per #of Units Cost per unit Goods Cost Per Inventory Purchased Units Sold Date # of Units Unit 14 December 15 December 21 Totals 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. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units 6.00 cost 20 units $12.00 cost 15 units $14.00 cost QS 5-10 Perpetual: Assigning costs with FIFO LO P1 Required: Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory based on the FIFO method Perpetual FIFO: Cost of Goods Sold Goods Purchased UnitsCost per Cost of #of #of Units Cost per unit Cost Per Unit Date # of Units Sold Balance Soldunit December December 15 21 Totals