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Required information Trey Monson starts a merchandising business on December 1 and enters into the...

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Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 25 units for $45 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 15 units $18.00 cost 29 units $27.00 cost 25 units @ $32.00 cost Purchases on December 21 25 units e$32.00 cost Required: Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory based on the F method. Perpetual FIFO: Goods Purchased #of Units Date Cost Per Unit Goods Purchased Cost of Goods Sold # of Cost Per Cost of Goods Units Sold Unit Sold Inventory Balance of Units Cost Per Inventory Unit Balance December 7 December December 15 December Totals

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