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 28 units for $35 each Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units @ $14.00 cost 33 units @ $21.08 cost 28 units @ $25.00 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 Inventory Balance Cost Per Inventory # of Units Unit Balance #of Units Date Cost of Goods Sold #of Units Cost Per Cost of Goods Unit Sold Sold Cost Per Unit Goods Purchased December 7 December 14 December 15 December 21 Totals