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The follow Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system.

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The follow Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 25 units for $25 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 15 units @ $10.00 cost 30 units @ $15.de cost 25 units @ $18.00 cost are assinnedi based on the LIFO method Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Cost of Goods Sold of unit: Cost per Cost ol Goods Available for Solo of units sold Cost per Cost of Goods Sold Cost per Inventory Balance mit December 7 $ 0.00 S 0.00 December 14 Total Decomber 14 0.00 December 15 Total Decomber 15 $ 0.00 December 21 Totals

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