YMCU Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases Also, on December 15, Monson sells 27 units for $40 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 17 units 33 units 27 units $16.00 cost $24.00 cost $29.00 cost Required: Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory based on the FIFO method Perpetual FIFO; Cost of Goods Sold Goods Purchased Cost Per Goods Unit Purchased of Units Date Inventory Balance o ftolis Cost Per Inventory Unit Balance Units Cost Per Cost of Goods Unit Sold December 7 December Sold 7 December 1 December December 15 December Totals