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 29 units for $50 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 19 units @ $20.00 cost 36 units @ $30.00 cost 29 units @ $36.00 cost Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Inventory Balance Perpetual LIFO: Goods purchased Cost of Goods Sold Cost per Cost of Goods # of # of units Available for unit units Cost per Cost of Goods unit Sold Sale sold Date # of units Cost per unit Inventory Balance December 7 19 at $ 20.00 $ 380.00 19 at $ 20.00 - $ 380.00 36 at $ 30.00 = $1,080.00 $ 380.00 December 14 19 at 36 at $ 20.00 = $ 30,00 = 1.080.00 $1,460.00 Total December 14 29 at $ 30.00 $ 870.00 December 15 ret at $ 20.00 = 580.00 Total December 15 $ 580.00 $ 0.00 December 21 $ 870.00 Totals