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 18 units for $10 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 8 units $4.60 cost 26 units @ $6.ee cost 18 units @ $7.ee 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. Perpetual FIFO: Goods Purchased Cost Per Goods Unit Purchased # of Units Cost of Goods Sold # of Units Cost Per Cost of Sold Unit Goods Sold Inventory Balance # of Units Cost Per Inventory Unit Balance Date December 7 December 14 December 15 December 21 Totals