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2 Skipped eBook Required information [The following information applies to the questions displayed below.] A company reports the following beginning inventory and two purchases
2 Skipped eBook 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 440 units. Ending inventory at January 31 totals 170 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 400 Unit Cost 90 120 $ 3.90 4.10 4.20 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.) Beginning Inventory Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance # of units Cost per Cost of Goods Available for # of units unit # of units sold Cost per unit Cost of Goods Sold Sale in ending Inventory Cost per unit Ending Inventory $ 0 Purchases: January 9 0 January 25 0 Total 0 $ 0 0 $ 0 0 $ 0
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