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 10 units @ $ 6 cost 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. Answer is complete but not entirely correct. Perpetual LIFO: Cost of Goods Sold Inventory Balance Date Cost Goods purchased Cost of Cost Goods #of units per Available for unit Sale 10 at $ 6.00 $ 60.00 of units sold Cost por unit Cost of Goods Sold # of units per unit Inventory Balance > December 7 10 lat $ 60.00 20 at $ 12.00 $240.00 10 at $ 6.00 - $ 6.00 $ 12.00 $ 60.00 December 14 > > 20 at 11 240.00 Total December 14 $300.00 15 at $ 12.00 $ 180.00 10 at $ 6.00 $ 60.00 December 15 0% at $ 6.00 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. of a Answer is complete but not entirely correct. Perpetual LIFO: Cost of Goods Sold Inventory Balance # of Cost Cost units Cost of per Inventory # of units sold Goods Sold per unit Balance unit Date Goods purchased Cost of Cost of units Goods per Available for unit Sale 10 lat $ 6.00 S 60.00 December 7 10 lat $ 6.00 $ 60.00 20 1200 > $240.00 December 14 10 at $ 6.00 $ 60.00 at 12.00 240.00 Total December 14 $300.00 December 15 15 at 1200 $180.00 $ 60.00 10 a $6.00 at $ 6.00 . Total December 15 $ 60.00 15 14.00 $210.00 10 at $ 60.00 December 21 203 at $ 6.00 $ 14.00 $ 14.00 280.00 15 at Totals $ 180.00 210.00 $550.00