Requlred Information

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Trey Monson starts a merchandising business on December $1$ and enters into the following three Inventory purchases. Monson uses a perlodic inventory system. Also, on December $15,$ Monson sells $15$ units for $$20$ each.

Punchases on December $7$

Purchases on December $14$

$16$ units @ $$6$ cost

$20$ units @ $$12$ cost

Purchases on December $21$

$15$ units @ $$14$ cost

Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method.

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