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 25 units for $45 each. Purchases on December 7 15 units $18.00 cost Purchases on December 14 29 units $27.00 cost Purchased on December 21 25 units $32.00 cost Determine the costs assigned to ending Inventory when costs are assigned based on the LIFO method. Porlodic LIFO: Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods #of N of units Available for Cost Cost of unit units Sale sold per unit Goods Sold Inventory Balance Cost per of units In ending inventory Cost per Ending unit Inventory 5 0 Purchases December December 14 December 21 Total $ 0.005 0.00 0 0 0 0 $ 0.00 5 0 S 0 0 5 0