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 $26 each. Purchases on December 7 10 units @ $12.00 cost Purchases on December 14 20 units @ $18.00 cost Purchases on December 21 15 units @ $20.00 costQS 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 Cost per Cost of Goods # of # of units Available for units Cost per Cost of Goods unit unit Sold # of units Cost per Inventory Sale sold unit Balance December 7 December 14 Total December 14 December 15 Total December 15 December 21 Totals