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 30 units for $50 each. Purchases on December 7 Purchases on December 14 20 units @ $20.00 cost Purchases on December 21 34 units @ $30.00 cost 30 units @ $36.00 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 Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance Sale sold December 7 $ 0.00 $ 0.00 December 14 Total December 14 $ 0.00 December 15 Total December 15 December 21 Totals $ 0.00