! Required information [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. 10 units @ $ 6 cost Purchases on December 7 Purchases on December 14 20 units @ $12 cost Purchases on December 21 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 Date # of units Cost per unit Cost of Goods Available for # of units Sale sold Cost per Cost of Goods unit Sold # of units Cost per Inventory unit Balance December 7 December 14 Total December 14 $ 0.00 $ 0.00 $ 0.00 December 15 Total December 15 December 21 Totals $ 0.00