! Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 30 units for $25 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units $10.00 cost 36 units $15.00 cost 30 units $18.00 cost Required: Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending Inventory based on the FIFO method Perpetual FIFO: Goods Purchased Cost Per Goods Unit Purchased Inventory Balance # of Units Cost Per Inventory Unit Balance Cost of Goods Sold #of Cost Per Cost of Goods Units Unit Sold Sold #of Units Dato December 7 20 $ 10.00= $ 200.00 December 14 December 15 Prev 1 2 3 4 of 8 Next >