Required information Use the following information for the Quick Study below. Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases Also, on December 15, Monson sells 18 units for $10 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 8 units @ $4.00 cost 26 units @ $6.00 cost 18 units @$7.00 cost QS 6-11 Perpetual: Inventory costing with LIFO LO P1 Required: Monson sells 18 units for $10 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on LIFO. ces Perpetual LIFO Goods purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit Cost of Goods Available for Sale #of units sold Cost per Cost of Goods unit Sold of units Cost per unit Inventory Balance December 7 December 14 8$ 4.00 $ 32.00 8$ 4.00 $ 32.00 26 $ 6.00- $ 156.00 $4.00 $ 3200 26 00 156.00 December 151 December 21 18 7.00 $126.00l 18 $ 6.00- $ 188.00 $6.00- $ 48.00 Tats 6.00-1 10 Next > S 48.00