! Required information Use the following information for the Quick Study below. (Algo) [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 30 units for $35 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units @ $14.00 cost 36 units @ $21.00 cost 30 units @ $25.00 cost QS 5-16A (Algo) Perpetual: Inventory costing with LIFO LO P3 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Perpetual LIFO: Cost of Goods Sold Inventory Balance Goods purchased Cost of Goods unit Available for Sale Cost per Cost per # of units Date # of units sold Cost per unit Cost of Goods Sold # of units Inventory Balance unit December 7 December 14 December 15 December 21 Totals