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 $50 each. Purchases on December 7. Purchases on December 14 Purchases on December 21 18 units $20.00 cost 32 units 28 units $30.00 cost $36.00 cost "equired: etermine the costs assigned to the December 31 ending inventory based on FIFO method. Inventory Balance Periodic FIFO: Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods # of # of units Cost per unit Available for Sale units sold Cost per unit Goods Sold: # of units Cost of in ending Cost per Ending unit Inventory inventory Purchases: December 7 18+ December 14 32 December 21 28 Total 78 0.00 0.00 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 $50 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units $20.00 cost 32 units $30.00 cost 28 units $36.00 cost Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Cost of Goods Sold Periodic LIFO: Cost of Goods Available for Sale Inventory Balance Cost of Goods Cost per # of units unit Available for Sale #of units. sold Cost Cost of per unit Goods Sold # of units in ending Inventory Cost per Ending unit Inventory Purchases: December 7 December 14 December 21 Total $ 0 $0.00 $ 0 0 0.00 0 0.00 $ 0 0 $ 0 0 $ 0 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 $50 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 18 units $20.00 cost 32 units @ $30.00 cost 28 units $36.00 cost Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Amounts to be deducted should be indicated with a minus sign. Round cost per units to 2 decimals.) Periodic Weighted Average # of units Inventory on hand Cost per unit Inventory Value Cost of Goods Sold of units Avg. Cost per Cost of sold unit Goods Sold Purchase December 7 Purchase December 14 Purchase December 21 Available for Sale December Sales Total $ 0 0 0 0 $ 0 0 0