$!$

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 $15$ units for $$37$ each.

Purchases on December $7,10$ units @ $$23\mathrm{.}00$ cost

Purchases on December $14,20$ units @ $$29\mathrm{.}00$ cost

Purchases on December $21,15$ units @ $$31\mathrm{.}00$ cost

Required:

Determine the costs assigned to the December $31$ ending inventory based on the FIFO method.

$\backslash$table$[[$Perpetual FIFO:$],[$Date$,$Goods Purchased,Cost of Goods Sold,Inventory Balance$],[$# of Units,$\backslash$table$[[$Cost Per$],[$Unit$]],\backslash$table$[[$Goods$],[$Purchased$]],\backslash$table$[[$# of$],[$Units$],[$Sold$]],\backslash$table$[[$Cost Per$],[$Unit$]],\backslash$table$[[$Cost of Goods$],[$Sold$]],$# of Units,$\backslash$table$[[$Cost Per$],[$Unit$]],\backslash$table$[[$Inventory$],[$Balance$]]],[$December $7],[$December $14],[$Total December $14],[],[$December $15],[,,,,,,,,,],[$Total December $15],[$December $21],[$Totals$,,,,,,,,,],[,,,,,,,,,]]$