Use the following information for the Quick Study below. Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases Also, on December 15, Monson sells 30 units for $25 each Purchases on December 7 Purchases on December 14 Purchases on December 21 ze units $10.00 cost 36 units $15.00 cost 30 units $18.00 cost QS 5-10 Perpetual: Assigning costs with FIFO LO P1 Required: Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory based on the FIFO method Perpetual FIFO Goods Purchased Date # of Cost Per Goods Units Unit Purchased December 7 20 $ 10.00 = $ 200.00 Cost of Goods Sold # of Units Cost Per Cost of Goods Sold Unit Sold Inventory Balance Cost Per Inventory #of Units Unit Balance 20 @ $ 10.00 - $ 200.00 December 14 30 $ 15.00 = $ 540.00 201 al $ 10.00 36 @ 15.00 $ 200.00 540.00 $ 740.00 December 15 December 21 30 $ 18.00 5 540.00 Totals