[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 28 units for $35 each Purchases on December 7 18 units @ $14.00 cost Purchases on December 14 33 units $21.00 cost Purchases on December 21 28 units @ $25.00 cost Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Potlodic FIFO: Goods Available for Sale Cost of Goods Sold Cost of Goods # of # of units Available for units Cost of unit Sale unit Goods Sold sold Cost per Cost per Ending Inventory of units Cost per Ending in ending unit Inventory Inventory Purchases December 7 December 14 December 21 Total [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 28 units for $35 each Purchases on December 7 18 units 514.90 cost Purchases on December 14 33 units @ $21.00 cost Purchases on December 21 28 units @ $25.00 cost Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method Periodic LifO; Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods #of # of units Available for Cost Cost of unit units Sale sold per unit Goods Sold Cost per Inventory Balance # of units Cost in ending per Ending unit Inventory Inventory Purchases December 7 December 14 December 21 Total