Check Required information 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 28 units for $45 each Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units @ $18.00 cost 32 units @ $27.00 cost 28 units @ $32.00 cost Required: Determine the costs assigned to the December 31 ending inventory based on the FIFO method. Goods Purchased Perpetual FIFO Cost of Goods Sold # of Cost Per Cost of Goods Units Sold Date of Units Cost Per Unit Goods Purchased Inventory Balance Cont Per of Units Inventory Unit Balance Unit Sold December 7 18 at $ 18,00 $ 324.00 18 at $ 18.00 $ 324.00 32 at $ 27.00 $ 864.00 18 at $ 18.00 $ 324.00 December 14 32 at $ 27.00 - 864.00 $1.188.00 Total December 14 18 at $18.00 = $ 324.00 December 15 10 at $ 27.00 = $ 270.00 Total December 15 28 at $ 32.00 - $ 396.00 28 at $ 32.00 $ 890.00 December 21 S 594.00 5896.00 Totals