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Required information

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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 $7$

Purchases on December $14$

$10$ units@$$21\mathrm{.}00$ cost

$20$ units@$$27\mathrm{.}00$ cost

Purchases on December $21$

$15$ units@$$29\mathrm{.}00$ cost

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