Required information Use the following information for the Quick Study below..... Trey Monson starts a merchandising business on December 1 and enters into three Inventory purchases: Purchases on December 71 Purchases on December 14 Purchases on December 21 15 units @ $10.00 cost 30 units @$15.00 cost 25 units @$17.00 cost QS 5-14A Periodic: Inventory costing with FIFO LO P3 Required: Monson sells 25 units for $25 each on December 15. Assume the periodic inventory system is used. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on FIFO. Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold of units Cost per unit Cost of Goods Available for of Sale units soldi Cost Cost of per unit Goods Sold Purchases December 7 December 14 December 21 Total Inventory Balance # of units in ending inventory Cost per Ending unit Inventory 0.00 0:00