Required information Use the following information for the Quick Study below. (Algo) [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 10 units for $50 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 8 units @ $20.00 cost 17 units @ $30.00 cost 15 units @ $36.00 cost QS 5-15A (Algo) Perpetual: Inventory costing with FIFO LO P3 Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Perpetual FIFO: Goods Purchased Inventory Balance Date # of Units Cost Per Unit Goods Purchased Cost of Goods Sold # of Units Cost Per Cost of Goods Unit Sold Sold #of Units Cost Per Unit Inventory Balance December 7 December 14 December 15 December 21 Totals