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 15 units for $20 each Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units $ 6.00 cost 20 units $12.00 cost 15 units @ $14,00 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 Goods Purchased Dute # of Units Cost Per Unit Goods Purchased Cost of Goods Sold W of Cost Per Cost of Goods Units Unit Sold Sold Inventory Balance Cost Per Inventory # of Units Unit Balance December 7 December 14 December 15 December 21 Totals