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 28 units for $25 each. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. 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 28 units for $25 each. Purchases on Decenber 718 unite e $10.00 eost Parchasea on Decenber 1435 unite $15.00 cont Parchanes on Decenber 2128 unita e $18.00 cost Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method