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 10 units for $50 each Purchases on December 7 8 units $20.00 cost Purchases on December 14 17 units $30.00 cost Purchases on December 21 15 units $36.00 cost QS 5-12 (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 Cost per Cost of Goods # of Cost per Cost of Goods # of units unit Available for units unit Sold Sale sold Inventory Balance Date # of units Cost per unit Inventory Balance December 7 s 0.00 December 14 $ 0.00 Total December 14 $ 0.00 December 15 Total December 15 $ 0.00 December 21 Totals