11 (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 periodic inventory system. Also, on December 15, Monson sells 28 units for $50 each. Part 1 of 3 Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units @ $20.00 cost 32 units @ $30.00 cost 28 units @ $36.00 cost 3 points 8 01:39:16 Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. eBook Periodic FIFO: Goods Available for Sale Cost of Goods Sold Cost of Goods # of Cost per # of units Available for Cost per Cost of units unit Sale sold unit Hint Ending Inventory # of units Cost per Ending unit Inventory inventory Goods Sold in ending Print Purchases: References 10 $ 60 December 7 December 14 20 6.00 $ 12.00 14.00 240 12.00 $ 12.00 14.00 December 21 Total 14.00 240 210 450 15 45 210 510 2,880 2,940 5,820 $ $