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 @ $12.00 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 FIFO method. Goods Purchased Cost per Goods unit Purchased # of Units Cost of Goods Sold Cost per Cost of Goods unit # of Units Sold Date Inventory Balance Cost Per # of Units Inventory Unit Balance Sold December 7 December 14 December 15 December 21 Totals