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 15 units for $20 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $ 6.00 cost 20 units @ $12.00 cost 15 units @ $14.00 cost Required: Monson sells 15 units for $20 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: Cost of Goods Sold Inventory Balance Date # of units Goods purchased Cost of Cost per Goods unit Available for Sale $ 0.00 # of units sold Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance December 7 December 14 $ 0.00 $ 0.00 December 15 December 21 $ 0.00 Totals Required: Monson sells 15 units for $20 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. Weighted Average - Perpetual: Goods purchased # of Cost per Date Inventory units unit Value Cost of Goods Sold # of units Cost of unit Goods Sold sold Cost per Inventory Balance Cost per # of units Inventory unit Balance December 7 $ 0.00 December 14 $ 0.00 $ 0.00 Average cost December 15 $ 0.00 December 21 $ 0.00 Average cost Totals