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QS 6-5 Perpetual: Inventory costing with LIFO LO P1 A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 430 units. Ending Inventory at January 31 totals 170 units. Units Unit Cost Beginning inventory on January 1 390 $ 3.80 Purchase on January 9 96 4.60 Purchase on January 25 120 4.10 Required: Assume the perpetual Inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on LIFO Perpetual LIFO Goods purchased Cost of Goods Sold Inventory Balance # of Cost per # of Date unit units Cost per Cost of Cost per Inventory units sold unit Goods Sold # of units unit Balance January 1 January 9 January 25 January 26 Totals