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 $37 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $23.00 cost 20 units $29.00 cost 15 units @ $31.00 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 Inventory Balance Date # of units Cost per unit Cost of Goods Available for Sale #of units sold Cost per Cost of Goods # of units unit Sold Cost per unit Inventory Balance December 7 December 14 Total December 14 December 15