Required information Skip to question [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 periodic inventory system. Also, on December 15, Monson sells 29 units for $45 each. Purchases on December 7 19 units @ $18.00 cost Purchases on December 14 35 units @ $27.00 cost Purchases on December 21 29 units @ $32.00 cost