A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 290 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 260 60 100 Unit Cost $2.40 2.60 2.74 Required: Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance # of units Cost per Cost per Cost of Goods Available for Sale Cost per # of units sold Cost of Goods Sold # of units in ending inventory Ending Inventory unit unit unit $ 0 Beg. Inventory Purchases: January 9 25 0 0 Total 0 $ 0 0 $ 0 0 $ 0