Part 1 of 4 Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 27 units for $40 each. 10 points Purchases on December 7 Purchases on December 14 Purchases on December 21 17 units @ $16.00 cost 33 units @ $24.00 cost 27 units @ $29.00 cost eBook Required: Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory based on the FIFO method. Hint Print Inventory Balance Perpetual FIFO: Goods Purchased Cost Per # of Date Goods Units Unit Purchased December 7 17 @ $ 16.00 = $ 272.00 December 14 33 @ S 24.00 = $ 792.00 # of Units Sold Cost of Goods Sold Cost Per Cost of Goods D utta Unit Sold # of Units References 17 @ 17 @ 33 @ Cost Per Inventory Unit Balance $ 16.00 = $ 272.00 $ 16.00 = $ 272.00 $ 24.00 = 792.00 $1,064.00 $ 16.00 = $ 24.00 = December 15 17 @ $ 272.00 $ 16.00 = $ 24.00 = @ @ December 21 27 @ S 29.00 = $ 783.00 @ $ 16.00 = $ 24.00 $ 29.00 $ 783.00 $ 783.00 Totals $ 272.00 Required: Monson sells 27 units for $40 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round your cost per unit to 2 decimal places.) Weighted Average - Perpetual: Goods purchased Inventory Balance # of units Date Cost per unit Cost of Goods Sold # of Cost per Cost of units unit Goods Sold sold Inventory Value # of units Cost per unit Inventory Balance December 7 | | 171 @ 16.00 = 272.00|| 33 @[ 24.00 = 792.00 December 14 Average cost L $574.56 17 @ $ 16.00 = $ 272.00 17 @ $ 16.00 = $ 272.00 33 @ $ 24.00 = 792.00 50 @ $ 21.28 = $1,064.00 $ 21.28 = @ $ 21.28 = 27 @ $ 29.00 = || 1 783.00 27 @ December 15 $ 21.28 = 1 2 7 @ 27 @ 29.00 = 783.00 December 21 1 Average cost Totals $574.56