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 15 units for $20 each. On each Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $ 6.00 cost 20 units @ $12.00 cost 1 5 units @ $14.00 cost Requirect: 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 Inventory Balance #of Units Date Cost Per Unit Goods Purchased Cost of Goods Sold Cost Per Cost of Goods Unit Sold # of Units Sold # of Units Cost Per Unit Inventory Balance December 7 December Perpetual FIFO: Goods Purchased Cost Per Goods Unit Purchased Inventory Balance Cost Per Inventory # of Units in Balance Cost of Goods Sold Cost Per COST OF Cost Per Cost of Goods Unit Sold #of Units Date of Units Sold December 7 December December December Totals