Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 29 units for $50 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 19 units @ $20.00 cost 36 units @ $30.00 cost 29 units @ $36.00 cost Required: Monson sells 29 units for $50 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on LIFO. Perpetual LIFO: Goods purchased Cost of Goods Sold Inventory Balance Cost of Goods Date # of units Cost per Available for # of units sold Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance unit Sale December 7 $ 0.00 December 14 $ 0.00 $ 0.001 December 15 December 21 $ 0.00 Totals