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Required information

Use the following information for the Quick Study below. $($Algo$)(15-18)$

$[$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 $15$ units for $\backslash (\backslash$$ $50\backslash )$ each.

QS $6-15$A $($Algo$)$ Periodic: Inventory costing with FIFO LO P$3$

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