Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 15 units for $20 each. PurchasesonDecember7PurchasesonDecember14PurchasesonDecember2110units&$6cost20units$12cost15unitsof$14cost QS 5-12 (Static) Perpetual: Inventory costing with LIFO LO P1 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method