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 $40 each. Purchases on December 7 20 units @ $16.00 cost Purchases on December 14 35 units @ $24.00 cost Purchases on December 21 30 units @ $29.00 cost Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Periodic LIFO: Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods Cost per # of units unit Available for Sale #of units sold Cost Cost of per unit Goods Sold Inventory Balance # of units Cost per Ending in ending unit Inventory Inventory Purchases: December 7 December 14 December 21 Total