! Required information Use the following information for the Quick Study below..... Trey Monson starts a merchandising business on December 1 and enters into three inventory purchases: Purchases on December 7 Purchases on December 14 Purchases on December 21 15 units $10.00 cost 30 units @ $15.00 cost 25 units @$17.00 cost QS 5-15 Periodic: Inventory costing with LIFO LO P3 Required: Monson sells 25 units for $25 each on December 15. Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Periodic LIFO: Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Goods Sold Cost of # of units in ending Inventory Cost per Ending unit Inventory Purchases December 7 $ 0 December 14 10 $0.00 $ 0 0.00 0 December 21 0 0.00 Total $ 0 0 $ 0 0 $ 0