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

Also, on December 15 Monson sells 28 units for $25 each.

Purchases on December 7 18 units @ $10 cost
Purchases on December 14 35 units @ $15 cost
Purchases on December 21 28 units @ $18 cost

Required:

Monson sells 28 units for $25 each on December 15. Monson uses a perpetual inventory system.
Determine the costs assigned to the December 31 ending inventory when costs are assigned based on LIFO.

In 2018, laureen is currently single. she paid $2,800 of qualified tuition and related expenses for each of her twin daughters sheri and meri to attend state university as freshmen ($2,800 each for a total of $5,600). sheri and meri qualify as laureen’s dependents. laureen also paid $1,900 for her son ryan’s (also laureen’s dependent) tuition and related expenses to attend his junior year at state university. finally, laureen paid $1,200 for herself to attend seminars at a community college to her improve her job skills. what is the maximum amount of education credits laureen can claim for these expenditures in each of the following alternative scenarios? a. laureen's agi is $45,000.b. laureen’s agi is $95,000.c. laureen’s agi is $45,000 and laureen paid $12,000 (not $1,900) for ryan to attend graduate school (i. e, his fifth year, not his junior year).