Required information Use the following information for the Quick Study below. (Static) (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 $20 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10units$6cost20units$12cost15units$14cost QS 5-12 (Static) Perpetual: Inventory costing with LIFO LO P1 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method