Saved Help Say Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units $20.00 cost 34 units @ $30.00 cost 30 units @ $36.00 cost QS 6-10 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. Perpetual FIFO: Cost of Goods Sold Inventory Balance Goods Purchased Cost Per Goods Unit Purchased Date # of Units # of Units Sold Cost Per Cost of Goods Unit Sold # of Units Cost Per Unit Inventory Balance December 7 December 14 December 15 December 21 Totals Saved Help Say Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units $20.00 cost 34 units @ $30.00 cost 30 units @ $36.00 cost QS 6-10 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. Perpetual FIFO: Cost of Goods Sold Inventory Balance Goods Purchased Cost Per Goods Unit Purchased Date # of Units # of Units Sold Cost Per Cost of Goods Unit Sold # of Units Cost Per Unit Inventory Balance December 7 December 14 December 15 December 21 Totals