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 $28 each. etermine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Jetermine the costs assigned to ending inventory when costs are assigned based on the LIFO method. rmine the costs assigned to ending inventory when costs are assigned based on the weighted average method. ind your per unit costs to 2 decimal places.) inventory purchases. Monson uses a perpetual inventory system. Also, on December 15 , Monson sells 15 units for $28 each. Of the units sold, eight are from the December 7 purchase and seven are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification. Required: Determine the costs assigned to the December 31 ending inventory based on the FIFO method