Question: explain the steps please! will thumbs up! // Required information [The following information applies to the questions displayed below.] Trey Monson starts a merchandising business

explain the steps please! will thumbs up! //

Required information [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 $50 each. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method

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