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Trey Monson starts a merchandising business on December $1$ and enters into the following three inventory purchases.

Monson uses a perpetual inventory system. Also, on December $15,$ Monson sells $15$ units for $$25$ each.

Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method.

Trey Monson starts a merchandising business on December $1$ and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December $15,$ Monson sells $15$ units for $$25$ each.

Purchases on December $710$ units @ $$11\mathrm{.}00$ cost

Purchases on December $1420$ units @ $$17\mathrm{.}00$ cost

Purchases on December $2115$ units @ $$19\mathrm{.}00$ cost

Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method.