! Required information Use the following information for the Quick Study below. (Algo) [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 December 7 Purchases on December 14 Purchases on December 21 18 units @ $10.00 cost 35 units @ $15.00 cost 28 units $18.00 cost QS 5-12 (Algo) Periodic: Inventory costing with LIFO LO P1 Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Answer is not complete. Periodic LIFO: Cost of Goods Sold Inventory Balance Cost of Goods Available for Sale Cost Cost of # of per Goods units unit Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory Purchases: December 7 $ 180 $ 0 18 $ 10.00 3515.00 $ 10.00 15.00 525 0 December 14 December 21 Total 504 18.00 28 x 18.00 $ 504 28 18.00 81 $ 1,209 0 $ 0 28 $ 504