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. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units $6 cost 20 units 15 units $12 cost $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 Cost per Cost of Goods units # of units unit Sold Cost per unit Inventory Balance Sale sold December 7 December 14 $ 0.00 $ 0.00 Total December 14 December 15 Total December 15 December 21 Totals 0.00 $ 0.00