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 28 units for $45 each Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units $18.00 cost 32 units $27.ee cost 28 units $32.08 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 Cost Per Unit Cost of Goods Sold of Cost Per Cost of Goods Units Unit Sold Sold Goods Purchased Units Inventory Balance Cost Per # of Units Inventory Unit Balance December December December 15 Perpetual FIFO Goods Purchased of Units Cost Per Unit Goods Purchased Cost of Goods Sold #of Cost Per Cost of Goods Units Unit Sold Sold Inventory Balance Cost Per Inventory # of Units Balance Unit December 7 December December 15 December 21 Tot