Required information 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 15 units for $20 each. Purchases on December Purchases on December 14 Purchases on December 21 10 units e$ 6.00 cost 20 units @ $12.00 cost 15 units e $14.00 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. 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 Inventory Balance # of Date Cost of Goods Sold of Cost Per Units Cost of Sold Unit Goods Sold Cost Per Unit Goods Purchased of Units Cost Per Unit Units Inventory Balance December 7 December 14 Print December 15 eferences December 21