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 10 units $ 6.00 cost 20 units @ $12.00 cost 15 units $14.00 cost QS 5-15 Periodic: Inventory costing with LIFO LO P3 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 Cost per # of units unit Available for Sale Cost of Goods Sold # of Cost Cost of units sold per unit Goods Sold Inventory Balance # of units Cost per Ending in ending unit Inventory inventory Purchases $ 0 $0.00 $ 0 December 7 December 14 0 0.00 0 0.00 December 21 Total 0 0 $ 0 $ 0 0 $ 0