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 15 units for $20 each. Purchases on December Purchases on December 14 Purchases on December 21 10 units e $ 6.00 cost 20 units @ $12.00 cost 15 units e $14.00 cost QS 5-11 Perpetual: Inventory costing with LIFO LO P1 ances Required: Monson sells 15 units for $20 each on December 15. Monson uses a perpetual inventory system. Determine the cost assigned to the December 31 ending inventory when costs are assigned based on LIFO. Required: Monson sells 15 units for $20 each on December 15. Monson uses a perpetual inventory system. Determine the assigned to the December 31 ending inventory when costs are assigned based on LIFO. Perpetual LIFO: Goods purchased Inventory Balance Cost of Goods Sold #of units Cost per Cost of unit Goods Sold Date # of units Cost per unit Cost of Goods Available for Sale # of units Cost per unit Inventory Balance December 7 December 14 December 15 aces December 21 Totals