! Required Information Use the following information for the Quick Study below. (Algo) (11-14) The following information applies to the questions displayed below) Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases Monson uses a perpetual inventory system. Also, on December 15, Monson sells 25 units for $45 each Purchases on December Purchases on December 14 Purchases on December 21 15 units $18.00 cost 29 units @ $27.00 cost 25 units @ $32.89 cost QS 5-11 (Algo) Perpetual: Assigning costs with FIFO LO P1 Required: Determine the costs assigned to the December 31 ending inventory based on the FIFO method Goods Purchased Inventory Balance Perpetual FIFO Cost of Goods Sold of Units Cost Per Cost of Goods Sold Unit Sold Date of Units Cost Per Unit Goods Purchased of Units Cost Per Unit Inventory Balance December 7 December 14 Total December 14 December 15 Total December 15 December 21 Totals Required information Use the following information for the Quick Study below. (Algo) (11-14) The following information applies to the questions displayed below) Trey Monson starts a merchandising business on December 1 and enters into the following three Inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 25 units for $45 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 15 units $18.00 cost 29 units @ $27.00 cost 25 units 332,00 cost QS 5-12 (Algo) Perpetual: Inventory costing with LIFO LO P1 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method Goods.purchased Pemetual LIFO Cost of Goods Sold Inventory Balance Date of units Cost per Cost of Goods Available for Sale of urus sold Cost per cost of Goods unit Sold Cost per unit of units unit Inventory Balance December December 14 Total December 14 December 15 Total December 15 December 21 Totals