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9 23 (The following information applies to the questions displayed below) Trey Monson starts a merchandising business on December 1 and enters into the following

9 23 (The following information applies to the questions displayed below) Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases Monson uses a perpetual inventory system. Also, on December 15. Monson sells 15 units for $20 each. Purchases on December 7 Purchases on December 14: Purchases on December 211 10 units 56 cost 20 units $12 cost 15 units $14 cost Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Perpetual LIFO Goods purchased Cost of Goods Sold Inventory Balance Cost of Goods of Dele uf units Cost per unit Available for Sale units sold Cost per Cost of Goods unit Sold Cost per of units Inventory Balance 0.00 $ 0.00 Print December 7 December 14 Total December 14 December 15 Total December 15 December 21 Totals $ 0.00 $ 0.00

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