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 $50 each Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units @ $20.00 cost 32 units @ $30.00 cost 28 units $36.00 cost Required: Monson sells 28 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 Date # of units Cost per unit Cost of Goods Available for Sale #of units sold Cost per unit Cost of Goods Sold w of units Cost per unit Inventory Balance December 7 $ 0.00 December 14 $ 0.00 $ 0.00 December 15 December 21 5 0.00 This