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CTICE EXAM 4B Saved Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 30 units for $25 each. Purchases on December 7 Purchases on December 14 20 units @ $18.06 cost 36 units @ $15.ee cost Purchases on December 21 Be units @ $18. ee cost Required: Monson sells 30 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 Cost of Goods Date of Cost per # of Available for units Cost per Cost of # of units Cost per Inventory units unit Sale sold unit Goods Sold unit Balance December 7 December 14 December 15 December 21 Totals Prey Next E-5821-jpeg Type here to search O ? % 2 3 4 5 6 7 8 9