8-to-Know Videos Saved Help Sex 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 15 units for $20 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 1e units 20 units 15 units $6.00 cost $12.00 cost $14.00 cost Required: Monson sells 15 units for $20 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. Perpetual UFO: Goods purchased Cost of Goods Sold Inventory Balance Cost per sol units Cost of Goods Available for Sale of units Cost per Cost of Goods unit Sold of units Cost per unit Inventory sold Balance December December 14