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 15 units for $35 each. PurchasesonDecember:PurchasesonDecember14PurchasesonDecember2110units@$21.00cost20units@$27.00cost15units@$29.00cost QS 5-11 (Algo) Perpetual: Assigning costs with FIFO LO P1 Requlred: Determine the costs assigned to the December 31 ending inventory based on the FIFO method