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 $20 each. Purchases on December 7 Purchases on Decenber 14 Purchases on December 21 10 units $ 6 coat 20 units 8 $12 cost 15 units $14 cost Required: Determine the costs assigned to the December 31 ending inventory based on the FIFO method. Answer is not complete. Perpetual FIFO Goods Purchased i Cost of Goods Sold Date of Units Cost Per Goods Purchased # of Cost Units Per Unit Cost of Goods Sold # of Units Sold Unit Inventory Balance Cost Per Unit Inventory Balance December 7 10 at $ 6.00 $ 60.00 10 at $6.00 $ 60.00 $ 20 at 10 at $6.00 $60.00 12.00 240.00 December 14 20at 240.00 12.00 Total December $300.00 14 15 at $180.00 5 12.00 . at $60.00 12.00 December 15 Total December 15 December 21 Totals $ 15 at 14.00 210.00 5 at $ 12.00 $ 60.00 15 at 14.00 $180.00 210,00 $270.00