(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 29 units for $50 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 19 units @ $20.00 cost 36 units @ $30.00 cost 29 units @ $36.00 cost Determine the costs assigned to ending inventory when costs are Issigned based on the FIFO method. Perpetual FIFO of Goods Sold Inventory Balance Goods Purchased Cost Per Goods Unit Purchased # of Units # of Units Sold Cost Per Cost of Goods Unit Sold # of Units Cost Per Unit Date Inventory Balance December 7 December 14 December 15 Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Perpetual FIFO: Goods Purchased #of Units Cost Per Unit Date Cost of Goods Sold # of Cost Per tost of Goods Units Unit Sold Sold Goods Purchased Inventory Balance Cost Per Inventory # of Units Unit Balance December 7 December 14 December 15 December 21 Totals