Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 28 units for $25 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units @ $10.00 cost 35 units @ $15.00 cost 28 units @ $18.00 cost S 6-10 Perpetual: Assigning costs with FIFO LO P1 equired: onson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory based on the FIFO ethod. Perpetual FIFO: Goods Purchased Inventory Balance # of Units Date Cost Per Unit Cost of Goods Sold # of Cost Per Cost of Units Unit Goods Sold Sold Goods Purchased # of Units Cost Per Unit Inventory Balance December 7 December 14 December 15 December 21 otals S