12 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 $25 each. Part 2 of 2 Purchases on December 7 Purchases on December 14 Purchases on December 21 15 units @ $10.00 cost 30 units @ $15.00 cost 25 units @ $18.00 cost 3 points QS 5-11 Perpetual: Inventory costing with LIFO LO P1 00:41:46 Required: Monson sells 25 units for $25 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on LIFO. eBook Perpetual LIFO: CO Hint Goods purchased Cost of Goods Sold Inventory Balance Cost per Date # of units Cost of Goods Available for Sale # of units sold Cost per Cost of Goods unit Sold Cost per unit unit # of units Inventory Balance Print December 7 15 @ $ 10.00] = $ 150.00 15@ $ 10.00 $ 150.00 December 14 30 @ $ 15.00] = $ 450.00 15| @ $ 150.00 References $ 10.00 $ 15.00 = 30 @ 450.00 $ 600.00 December 15 25@ $ 25.000 $ 625.00 @ December 21 25 @ $ 18.00 $ 450.00 Totals $ 625.00