Required information ABC starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, ABC sells 23 units for $30 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 13 units @ $12.00 cost 30 units @ $18.00 cost 23 units @ $22.00 cost Required: ABC uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory based on the FIFO method. Perpetual FIFO: Goods Purchased Inventory Balance # of Units Date Cost Per Unit Cost of Goods Sold # of Units Cost Per Cost of Goods Unit Sold Goods Purchased # of Units Cost Per Unit Inventory Balance Sold December 7 December 14 December 15 December 21 Totals