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 18 units for $10 each Purchases on December 7 Purchases on December 14 Purchases on December 21 8 units @ $4.00 cost 26 units @ $6.00 cost 18 units @ $700 cost Required: Monson sells 18 units for $10 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to December 31 ending inventory when costs are assigned based on LIFO. Perpetual LIFO: Cost of Goods Sold Inventory Balance Goods purchased Cost of Goods Cost per Available for unit Sale Cost per Date # of units # of units sold Cost per Cost of Goods Sold # of units Inventory Balance unit unit December 7 December 14 December 15 December 21 Totals