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 26 units for $25 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 16 units @ $10.00 cost 33 units @ $15.00 cost 26 units @ $18.00 cost QS 5-15A Perpetual: Inventory costing with LIFO LO P3 Required: Monson sells 26 units for $25 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 the LIFO method. Perpetual LIFO: Goods Purchased Inventory Bala # of Cost of Goods Sold # of Units Cost per Cost of Sold unit Goods Sold Date # of Units Units December 7 | 16 @ 33 @ Cost per Goods unit Purchased $ 10.00 - $ 160.00 $ 15.00 = $ 495.00 December 14 16 @ 16 @ 33 @ December 15 0 26 @ $ 10.00 $ 15.00 = 16 @ 7 @ Cost Per Inventory Unit Balance $ 10.00 - $ 160.00 $ 10.00 = $ 160.00 $ 15.00 = 495.00 $ 655.00 $ 10.00 = $ 160.00 $ 15.00 = 105.00 $ 265.00 $ 10.00 = $160.00 $ 15.00 = $ 105.00 $ 18.00 = 468.00 $ 733.00 $ 390.00 December 21 26 @ $ 18.00 = $ 468.00 16 @ 7@ 6 @ Totals $ 390.00