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 perpetual inventory system. Also, on December $15,$ Monson sells $25$ units for $$45$ each.

Purchases on December $7$

Purchases on December $14$

$15$ units @ $$18\mathrm{.}00$ cost

$30$ units @ $$27\mathrm{.}00$ cost

Purchases on December $21,25$ units @ $$32\mathrm{.}00$ cost

QS $5-16$A $($Algo$)$ Perpetual: Inventory costing with LIFO LO P$3$

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