Requlred Informetlon [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 26 units for $25 each. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Requlred Informatlon [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 26 units for $25 each. etermine the costs assigned to ending inventory when costs are assigned based on the LIFO method