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 28 units for $35 each. Purchanes on December 718 unita $14.00 cost Furchanes on becenber 14 33 unit in 521.00 cont Purchanes on December 2128 unlts $25.00 cost aportant Notel. efore you start working on this problem, watch the Hint video. This video shows you exactly how to work this problem. etermine 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