Required information The Company starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, The Company sells 23 units for $30 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 13 units @ $12.00 cost 30 units @ $18.00 cost 23 units @ $22.00 cost Required: The Company sells 23 units for $30 each on December 15. The Company uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on LIFO. Perpetual LIFO: Cost of Goods Sold Inventory Balance Goods purchased Cost of Goods Cost per Available for unit Sale of units # of units sold Cost per Cost of Goods unit Sold Cost per cost per unit Inventory Balance # of units Date December 7 $ $ 0.00 0.00 December 14 December 15 December 21 Purchases on December 7 Purchases on December 14 Purchases on December 21 13 units e $12.00 cost 30 units $18.00 cost 23 units @ $22.00 cost Required: The Company sells 23 units for $30 each on December 15. The Company uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on LIFO. Perpetual LIFO: Inventory Balance Goods purchased Cost per Cost of Goods unit Available for Sale # of units Date Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold of units Cost per unit Inventory Balance December 7 $ $ 0.00 0.00 December 14 $ 0.00 December 15 $ 0.00 December 21 Totals