Required information Use the following information for the Quick Study below. Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 27 units for $20 each Purchases on December 7 Purchases on December 14 Purchases on December 21 17 units @ $8.00 cost 34 units @ $12.00 cost 27 units @ $14.00 cost QS 6-11 Perpetual: Inventory costing with LIFO LO P1 Required: Monson sells 27 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 Goods purchased Cost per Cost of Goods Available for unit Sale # of units Date #of units sold Cost per Cost of Goods u nit Sold of units Cost per unit Inventory Balance December 7 = = $ $ 0.00 0.00 December 14 December 15 December 21 $ 0.00 Totals