Use the following information for the Quick Study below. (Algo) [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 28 units for $35 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units @ $14.00 cost 33 units @ $21.00 cost 28 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. Perpetual FIFO Goods Purchased Inventory Balance Cost of Goods Sold # of Units Cost Per Cost of Goods of Date Cost Per Goods Infinite Cost Per Inventory Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Perpetual FIFO: Goods Purchased Date # of Cost Per Goods Units Unit Purchased December 7 18 @ $ 14.00 - S 252.00 December 14 33 @ $ 21.00 $ 693.00 Cost of Goods Sold # of Cost Per Cost of Goods Units Unit Sold Sold Inventory Balance Cost Per # of Units Inventory Unit Balance December 15 December 000s Purchased inventory balance # of Units Date Cost Per Unit COST OT Goods Sola # of Cost Per Cost of Goods Units Unit Sold Sold Goods Purchased # of Units Cost Per Unit Inventory Balance 18 @ $ 14.00 = $ 252.00 December 7 December 14 33 @ $ 21.00 $ 693.00 December 15 December 21 28 $ 25.00 = $ 700.00 Totals