Required information. [The following information applies to the questions displayed below.) Trey Monson starts a merchandising...

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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 25 units for $45 each. Purchases on December 7 Purchases on December 14, Purchases on December 21 15 units @ $18.00 cost 30 units @$27.00 cost 25 units @ $32.00 cost 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 Date of Units Cost Per Unit Goods Purchased # of Units Sold Cost Per Cost of Goods Unit Sold # of Units Cost Per Unit Inventory -Balance December 7 December 14 Total December 14 December 15 Total December 15 December 21 Totals 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 25 units for $45 each. Purchases on December 7 Purchases on December 14, Purchases on December 21 15 units @ $18.00 cost 30 units @$27.00 cost 25 units @ $32.00 cost 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 Date of Units Cost Per Unit Goods Purchased # of Units Sold Cost Per Cost of Goods Unit Sold # of Units Cost Per Unit Inventory -Balance December 7 December 14 Total December 14 December 15 Total December 15 December 21 Totals