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 15 units for $29 each.

Purchases on December 7	10 units @ $15.00 cost
Purchases on December 14	20 units @ $21.00 cost
Purchases on December 21	15 units @ $23.00 cost

Required: Determine the costs assigned to the December 31 ending inventory based on the FIFO method