[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 15 units for $20 each. 10 units @ $ 6 cost Purchases on December 7 Purchases on December 14 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. Answer is complete but not entirely correct. Periodic FIFO: Goods Available for Sale Cost of Goods Sold Ending Inventory Cost Cost of # of Cost Cost of # of units Cost # of Goods per units units per Goods Available unit sold unit Sold for Sale in ending inventory Ending per unit Inventory Purchases: December 7 10 $6.00 $ 60 8 $6.00 $ 48 2 x $6.00 $ 12 December $ 20 12.00 240 7 12.00 84 13 $ 156 14 12.00 December 15 14.00 210 0 15 14.00 210 21 Total 45 $ 510 15 $ 132 30 $ 378