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 30 units for $50 each Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units $20.00 cost 34 units @ $30.00 cost 30 units @ $36.00 cost Required: Determine the costs assigned to the December 31 ending inventory based on the FIFO method. Goods Purchased PerpetualFIEO Cost of Goods Sold #of Units Cost Per Cost of Goods Sald Sold Unit Date Cost Per Unit # of Units Inventory Balance Cost Per Inventory of Units Unit Balance Goods Purchased December 7 December 14 Total December 14 December 15 Total December 15 December 21 Totals