Required information [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 15 units for $20 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $6 cost 20 units @ $12 cost 15 units @ $14 cost Determine the costs assigned to ending Inventory when costs are assigned based on the FIFO method. Purchases December 7 December 14 December 21 Total Periodic FIFO. Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units sold # of units Cost Cost of per unit Goods Sold in ending Cost per Ending unit Inventory inventory $ 0.00 0.00 Required information [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 15 units for $20 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $ 6 cost 20 units @$12 cost 15 units $14 cost Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Purchases December 7 December 14 December 21 Total Periodic LIFO: Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance Cost of Goods # of # of units # of units Cost per unit Available for Sale units sold Cost Cost of per unit Goods Sold in ending Cost per Ending unit Inventory inventory $ 0 0 0.00 0 $ 0 0 S $0.00 $ 0 0:00 0 $ 0