! Required information Use the following information for the Quick Study below. Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. 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 30 units $27.00 cost 25 units 552.00 cost QS 5-10 Perpetual: Assigning costs with FIFO LO P1 Required: Monson uses a perpetual inventory system Determine the costs assigned to the December 31 ending inventory based on the FIFO method Answer is complete but not entirely correct. Perpetual.EIFO Goods Purchased Cost Per Goods #of Date of Units Cost of Goods Sold Cost Cost of BAIA Inventory Balance Cost # of Units Per Inventory Per Perpetual FIFO Goods Purchased Cost Goods Unit Purchased #of Units Date Cost of Goods Sold Cost Cost of Per Unit Goods Sold of Units Sold Pet Inventory Balance Cost Inventory Per # of Units Unit Balance 150 $ 270.00 18.00 15 18.00 1270 00 December 7 December 14 293 27.00 78300 15 18.00 5 27000 29 2700 783.00 $ 1,053 00 December 15 25 $800.00 16 32.00 $ $ 270.00 18.00 $10000 27.00 December 21 25 32 00 80000 $ 270.00 18.00 40 > 2700 $ 108 00 $ 37800 Total $908 00