Required: Determine the costs assigned to the December 31 ending inventory based on the FIFO method. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance # of Date Cost Per # of Units Unit Goods Purchased Units Cost Per Cost of Goods Unit Sold # of Units Cost Per Inventory Unit Balance Sold December 7 10 at $ 12.00 = $ 120.00 10 at $ 12.00 = $ 120.00 20 at $ 18.00 = || $ 360.00 10 at $ 12.00 = $ 120.00 December 14 20 at $ 18.00 = 360.00 Total December 14 $ 480.00 15 at $ 18.00 = $ 270.00 15 at $ 18.00 = $ 270.00 December 15 Total December 15 December 21 Totals 15 at $ 20.00 = $ 300.00 $ 270.00