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 $$39$ each.

$\backslash$table$[[$Purchases on December $7,10$ units @ $$25\mathrm{.}00$ cost$],[$Purchases on December $14,20$ units @$$31\mathrm{.}00$ cost$],[$Purchases on December $21,15$ units @$$33\mathrm{.}00$ cost$]]$

QS $5-11($Algo$)$ Perpetual: Assigning costs with FIFO LO P$1$

Required:

Determine the costs assigned to the December $31$ ending inventory based on the FIFO method.

$\backslash$table$[[$Perpetual FIFO:$],[$Date$,$Goods Purchased,Cost of Goods Sold,Inventory Balance$],[$# of Units,$\backslash$table$[[$Cost Per$],[$Unit$]],\backslash$table$[[$Goods$],[$Purchased$]],\backslash$table$[[$# of$],[$Units$],[$Sold$]],\backslash$table$[[$Cost Per$],[$Unit$]],\backslash$table$[[$Cost of Goods$],[$Sold$]],$# of Units,$\backslash$table$[[$Cost Per$],[$Unit$]],\backslash$table$[[$Inventory$],[$Balance$]]],[$December $7],[$December $14],[,,,,,$s$,,,,],[$Total December $14],[$December $15],[,,,,,,,,,],[$Total December $15,,,,,,,,,]]$