$!$

Required information

Part $2$ of $3$

$16\mathrm{.}7$

points

eBook

Hint

References

Use the following information for the Quick Study below. $($Algo$)(11-14)$

$[$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 perpetual inventory system. Also, on December $15,$ Monson sells $15$ units for $$35$ each.

Purchases on December $710$ units a $$21\mathrm{.}00$ cost

Purchases on December $1420$ units @ $$27\mathrm{.}00$ cost

Purchases on December $21,15$ units @ $$29\mathrm{.}00$ cost

QS $5-12($Algo$)$ Perpetual: Inventory costing with LIFO LO P$1$

Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method.