Required information Use the following information for the Quick Study below..... 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 16 unitse $10.00 cost 33 e 15.00. CON 26 units @ $18.00 con QS 5-15 Periodic: Inventory costing with LIFO LO P3 Required: Monson sells units for $25 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 Sold Inventory Balance Cost of Goods Available for Sale Cost of Goods # of units Available for unit Cost per #of units sold Cost Cost of per unit Goods Sold of units in ending Inventory Cost per Ending unit Inventory Sale 160 160 Purchases: December 7 December 14 December 21 Total 160 $ 10.00 $ 33 15.00 495 16 $ 10.00 $ 33 15.00 26 18.00 75 $ 495 468 18.00 1.123 $ 0 49 S 655