Use the following information for the Quick Study below. $($Algo$)(11-14)$

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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 $$27$ each.

Purchases on December $710$ units @ $$13\mathrm{.}00$ cost

Purchases on December $1420$ units @ $$19\mathrm{.}00$ cost

Purchases on December $2115$ units @ $$21\mathrm{.}00$ cost

QS $5-11($Algo$)$ Perpetual: Assigning costs with FIFO LO P$1$

Required:

Determine the costs assigned to the December $31$ ending inventory based on the FIFO method.