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. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $ 6.00 cost 20 units @ $12.ee cost 15 units @ $14.00 cost Required: Monson uses a perpetual Inventory system. Determine the costs assigned to the December 31 ending Inventory based on the FIF method Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance cast Per # of Units Cost Per Unit Goods Purchased # of Units Sold Cost Per Unit Date Cost of Goods Sold # of Units Inventory Balance Unit 10 @ December 7 10 @ 6.00 $ $ 60.00 S 60.00 $ 0.00 $ 10 @ 80.00 $ 6.00 = $ 12.00 December 14 20 la 5 240.00 20 @ S 12.00 = 240.00 S 300.00 $ 10.00 = December 15 December 21 115 S 14.00 $ 210.00 Totais