12 ! art 2 of 3 ints Required information [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 $35 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units @ $14.00 cost 33 units @ $21.00 cost 28 units @ $25.00 cost Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Purchases: Answer is complete but not entirely correct. Periodic LIFO: Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance Cost # of units Cost of Goods # of per units Available Cost per Cost of Goods unit sold unit Sold for Sale # of units in ending inventory Cost per unit Ending Inventory $ $ $ December 7 18 $ 252 18 $ 252 0 $ 0 14.00 14.00 14.00 December 33 21.00 693 10 21.00 $ 210 23 21.00 483 14 December $ 28 25.00 700 0 2825.00 $ 700 21 25.00 Total 79 $ 1,645 28 $ 462 51 $ 1,183