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 28 units for $25 each. Purchases on December 7. Purchases on December 14 Purchases on December 21 18 units $10.00 cost 35 units @ $15.00 cost 28 units @ $18.00 cost Required: Monson sells 28 units for $25 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned t December 31 ending inventory when costs are assigned based on LIFO. Perpetual LIFO: Goods purchased Cost of Goods Soldi Inventory Balance Date # of units Cost per Cost of Goods Available for # of units unit Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance Sale sold December 7 December 14 $ 0.00 $ 0.00 December 15 December 21 $ 0.00 Totals $ 0.00