Required Information Use the following Information for the Qulck 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 28 units for $10 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units @ $4.ee cost 35 units @ $6.ee cost 28 units @ $7.ee cost QS 5-11 Perpetual: Inventory costing with LIFO LO P1 Required: Monson sells 28 units for $10 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 Cost of Goods Date Cost per Available for Cost per # of units sold # of units Cost per unit Cost of Goods Sold # of units unit unit Inventory Balance Sale December 7 18 @ $ 4.00] = $ 72.00 18 @ $ 4.00 = 72.00 December 14 35 $ 6.00= $ 210.00 18 @ 35 @ $ 4.00 = $ 8.00 = 72.00 210.00 $ 282.00 December 15 28 @ $ 10.00 = $ 280.00 28 @ $ 10.00 = $ 280.00 @ @ $ 280.00 December 21 28 @ $ 7.00 - $ 196.00 Totals $ 280.00