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Use the following information for the Quick Study below. 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. 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 Required: Monson sells 25 units for $25 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned December 31 ending inventory when costs are assigned based on LIFO. Perpetual LIFO: Cost of Goods Sold Inventory Balance Goods purchased Cost Per Cost of Goods Unit Available for Sale Date units #of units sold Cost Per Cost of Goods Unit Sold # of units Cost per unit Inventory Balance December 7 December 14 December 15 December 21 Totals