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Required Information

$[$The following information applles 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 $7$

Punchases on December $14$

Punchases 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.

$\backslash$table$[[$Periodic LIEO:$],[,$Cost of Goods Available for Sale,Cost of Goods sold,Inventory Balance$],[,$# of units,$\backslash$table$[[$Cost per$],[$unit$]],\backslash$table$[[$Cost of Goods$],[$Available for$],[$Sale$]],\backslash$table$[[,\backslash$table$[[,\backslash$table$[[$Cost of$],[$Goods Sold$]],\backslash$table$[[$# of units$],[$in ending$],[$inventory$]],\backslash$table$[[$Cost per$],[$unit$]],\backslash$table$[[$Ending$],[$Inventory$]],,,,,],[$Purchases:$],[$December $7,,,0,,,,,$$$0\mathrm{.}00,$$