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 30 units for $50 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 20 units @ $20.00 cost 34 units @ $30.00 cost 30 units @ $36.00 cost Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Purchases: December 7 December 14 December 21 Total Periodic LIFO: Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance # of units Cost per unit Cost of Goods # of # of units Available for units Sale Cost Cost of per unit Goods Sold in ending Cost per Ending unit Inventory sold inventory $ 0 $ 0.00 $ 0 0 0.00 0 + 0 $ 0.00 0 $ 0 0 $ 0 0 $ 0 S < Prev 16 17 18 of 22 Next >