need lifo, fifo

Trey Monson starts a merchandising business on December 1 and enters into three inventory purchases: 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 Required: Monson sells 18 units for $10 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. Periodic LIFO: Cost of Goods Available for Sale Cost of Goods # of units Available for unit Sale Cost per Cost of Goods Sold # of units Cost Cost of sold per unit Goods Sold Inventory Balance # of units in ending Cost per Ending unit inventory Inventory Purch December December 14 December 21 Total