3 Part23 1111 Donts Required information Use the following information for the Quick Study below. (Algo) (5-7) 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 350 units. Ending Inventory at January 31 totals 150 units Sgped P Units Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 320 Unit Cost $3.10 80 3.30 100 3.44 QS 5-6 (Algo) Perpetual: Inventory costing with LIFO LO P1 Assume the perpetual inventory system is used Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method Perpetual LIFO Goods purchased Cost of Goods Sold Date of units Cost per of units unit sold unit Cost per Cost of Goods Sold of units Inventory Balance Cost per unit Inventory Balance January 1 January 9. Total January 9 Help 3 Part 2 or 3 1111 QS 5-6 (Algo) Perpetual: Inventory costing with LIFO LO P1 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method Perpetual LIFO Date Sipped January 1 Book January 9 H Total January 9 January 25 P Total January 25 Menca January 20 Mc Graw HI Total January 201 Goods purchased # of units Cost per of units unit sold Cost of Goods Sold Cost per Cost of Goods unit of units Sold Inventory Balance Cost per unit Inventory Balance < Prev Next >