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 30 units for $25 each Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units @ $10.ee cost 36 units @ $15.ee cost 30 units @ $18.60 cost QS 5-11 Perpetual: Inventory costing with LIFO LO P1 Required: Monson sells 30 units for $25 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. Perpetual.LIFO: Inventory Balance Goods purchased Cost of Goods #of Cost of Goods Sold Cost per cost of Goods Sold Cost per Available for Date w of units Cost per units of units Inventory Balance Sale unit sold 20 a $ 10.00 $ 200.00 2010 s 10.00 $ 200.00 December 7 December 14 361 $15.00 - $ 540.00 2016 $ 10.00 36 @ $ 15.00 $ 200.00 540.00 $ 740.00 December 15 14 S 10.00 $ 140.00 December 21 $ 0.00 Totals $140.00