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[ The following information applies to the questions displayed below. ] Trey Monson starts a merchandising business on December 1 and enters into the following

[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 perpetual inventory system. Also, on December 15, Monson sells 15 units for $32 each.
Purchases on December 7,10 units @ $18.00 cost
Purchases on December 1420 units @ $24.00 cost
Purchases on December 21,15 units @ $26.00 cost
QS 5-12(Algo) Perpetual: Inventory costing with LIFO X.O P1
Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method.
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