! Required information Use the following information for the Quick Study below. (Algo) (11-14) [The following...

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! Required information Use the following information for the Quick Study below. (Algo) (11-14) [The following information applies to the questions displayed below.] 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 $31 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $17.00 cost 20 units @ $23.00 cost 15 units @ $25.00 cost QS 6-12 (Algo) Perpetual: Inventory costing with LIFO LO P1 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. QS 6-12 (Algo) Perpetual: Inventory costing with LIFO LO P1 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Perpetual LIFO: Goods purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit Cost of Goods Available for # of units Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance Sale sold $ 0.00 $ 0.00 December 7 December 14 Total December 14 December 15 Total December 15 December 21 Totals $ 0.00 $ 0.00 ! Required information Use the following information for the Quick Study below. (Algo) (11-14) [The following information applies to the questions displayed below.] 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 $31 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $17.00 cost 20 units @ $23.00 cost 15 units @ $25.00 cost QS 6-12 (Algo) Perpetual: Inventory costing with LIFO LO P1 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. QS 6-12 (Algo) Perpetual: Inventory costing with LIFO LO P1 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Perpetual LIFO: Goods purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit Cost of Goods Available for # of units Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance Sale sold $ 0.00 $ 0.00 December 7 December 14 Total December 14 December 15 Total December 15 December 21 Totals $ 0.00 $ 0.00