Required information Trey Monson starts a merchandising business on December 1 and enters into three inventory purchases: Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $6.00 cost 20 units $12.00 cost 15 units $14.00 cost Required: Monson sells 15 units for $20 each on December 15. Assume the periodic Inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Periodic LIFO: Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance of units cost per unit Cost of Goods Available for Sale #of units Cost Cost of of units per unit Goods Sold in ending Inventory Cost per Ending unit Inventory sold Purchases December 7 0 $0.00 $ 0. 000 December 14 0.00 December 21 Total o 0 0 SC