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 30 units for $35 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units @ $14.00 cost 36 units $21.00 cost 30 units @ $25.00 cost QS 5-15A (Algo) Perpetual: Inventory costing with FIFO LO P3 Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Answer is complete but not entirely correct. Perpetual FIFO: Goods Purchased Cost # of Date Goods Units Per Purchased Unit December $ $ 20 @ 7 14.00 280.00 December $ $ $ 36 = 14 21.00 756.00 # of Units Sold Cost of Goods Sold Cost Cost of Per Unit Goods Sold # of Units Inventory Balance Cost Inventory # of Units Per Balance Unit $ 20 @ $ 280.00 14.00 20@ 14.00 $ 280.00 36 @ 21.00 756.00 $ 1,036.00 December 15 0 X 21.00 20 X @ 30 X @ = $630.00 21.00 December 21 30 @ $ 25.00 $ 750.00 20 X @ 6 @ Totals $ 630.00