8 Required information Trey Monson starts a merchandising business on December 1 and enters into three inventory purchases: Part 2 of 3 Purchases on December 7 Purchases on December 14 Purchases on Decenber. 21 10 units @ $ 6.80 cost 20 units $12.00 cost 15 units @ $14.00 cost 01.06.10 Required: Monson sells 15 units for $20 each on December 15. Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Periodio UFO Cost of Goods Available for Sale Cost per Cost of Goods Sold Cost of Goods of Available for units Cost Cost of Sale sold per unit Goods Sold Inventory Balance of units in ending Cost per Ending unit Inventory Inventory of units unit $ 0 Purchases December 7 December 14 December 21 Total $0.00 $ 0.00 0 0 0.00 0 $ 0 D 5 0 0 $ D