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Safari File Edit View History Bookmarks Window Help B ) 20% Mon 7:18 PM Q DE . . . G ezto.mheducation.com C Home Content Question 3 - Wk 2 - Apply: Connect Homework [due... EXAM CH456 MONSON LIFO.png + Wk 2 - Apply: Connect Homework [due Day 7] i Saved Help Save & Exit Submit .- 3 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 26 units for $25 each. Part 2 of 4 Purchases on December 7 16 units @ $10.00 cost Purchases on December 14 33 units @ $15.00 cost Purchases on December 21 26 units @ $18.00 cost 12.5 points Required: Monson sells 26 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. Perpetual LIFO: Goods purchased Cost of Goods Sold Inventory Balance # of Cost per Cost of Goods # of Cost per Cost of Goods # of units Cost per Inventory Date Available for units units unit unit Sold unit Balance Sale sold December 7 Mc Graw Education MAR 4 1Safari File Edit View History Bookmarks Window Help B ) 20% Mon 7:18 PM Q DE . . . G ezto.mheducation.com C Home Content Question 3 - Wk 2 - Apply: Connect Homework [due... 456 MONSON LIFO.png + Wk 2 - Apply: Connect Homework [due Day 7] i Saved Help Save & Exit Submit CO Required information 3 Perpetual LIFO: Goods purchased Cost of Goods Sold Inventory Balance # of # of Cost per Cost of Goods Cost per Cost of Goods Inventory Date Available for units # of units Cost per units unit unit Sold unit Balance Part 2 of 4 Sale sold December 7 12.5 December 14 points December 15 December 21 Totals Mc Graw Hill Education MAR 4 1