es Required information Use the following information for the Quick Study below. (Algo) (15-18) [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 18 units for $10 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 8 units @ $4.00 cost. 26 units @ $6.00 cost 18 units @ $7.00 cost QS 5-16A (Algo) Periodic: Inventory costing with LIFO LO P3 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Purchases: December 7 December 14 December 21 Total Inventory Balance Cost per Ending unit Inventory Periodic LIFO: Cost of Goods Available for Sale Cost of Goods Sold Cost per # of units Cost of Goods Available for unit Sale # of units sold # of units Cost Cost of per unit Goods Sold in ending inventory EA 0 $ 0 0 0 0 0 $ 0.00 $ SA $ 0.00 0.00 $ 0 0 0 0 $ SA 0