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1 Required information [The following information applies to the questions displayed below] A company reports the following beginning inventory and two purchases for the
1 Required information [The following information applies to the questions displayed below] A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 370 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 330 Unit Cost $3.20 80. 110 3.40 3.50 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. (Round your per unit costs to 2 decimal places.) Ending Inventory Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods # of units Cost per Available for unit of units sold Cost per unit Cost of Goods Sold Sale # of units in ending inventory Inventory Balance Cost per unit Beginning Inventory $ 0 Purchases: January 9 0 January 25 0 Total 0 S 0 0 $ 0 $
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