Required: Monson uses a Perpetual inventory system. determine the cost assigned to the December 31 and then inventory based on the FIFO method.

Ch 456 6 Saved Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventorypurchases Also, on December 15, Monson sells 28 units for $25 each Purchases on December 18 units 9 $10.00 cost Purchases on Decenber 35 units e $15.00 cost 14 Purchases on December 28 units e $18.00 cost 21 17:07 Required Monson uses a perpetual inventory system. Determine the costs assigned to the December 3t ending inventory based on the FIFO method Perpstual FIEO Goods Purchased d of Cost Per Cost Pec Cost of Goods! cost per #of Units #or units Unit Sold Unit Purchased Balance Dcember T 14