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0 Required information Use the following information for the Quick Study below. Trey Monson starts...

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Accounting

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0 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 23 units for $30 each. Purchases on December 17 Purchases on December 1430 units $18.00 cost Purchases on December 21 23 units $22.00 cost 13 units $12.00 cost QS 5-10 Perpetual: Assigning costs with FIFO LO P1 Required: Monson uses a perpetual Inventory system. Determine the costs assigned to the December 31 ending inventory based on the FIFC method Perpetual FIFO Goods Purchased Cost of Goods Sold #of Cost Pere Sold #of Units Cost Per Goods Cost Per Inventory Date Unit PurchasedUnits Cost Per Cost of Goods Unit Sold Unit 13 1200 156.00 3s 18.00$ 540.00 14 15 21 Totals

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