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Required information Use the following information for the Quick Study below. Trey Monson starts a...

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Accounting

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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 29 units for $45 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 19 units @ $18.00 cost 35 units @ $27.00 cost 29 units @ $32.00 cost QS 5-11 Perpetual: Inventory costing with LIFO LO P1 Required: Monson sells 29 units for $45 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: Goods purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit Cost of Goods Available for # of units sold Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance Sale December 7 $ $ 0.00 0.00 December 14 $ 0.00 December 15 December 21 $ 0.00 Totals

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