A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 300 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 270 60 100 Unit Cost $ 2.50 2.70 2.84 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Perpetual FIFO: Goods purchased Inventory Balance Cost of Goods Sold Cost per Cost of Goods unit Sold Date # of units # of unts sold Cost per unit # of units #ounts Cost per unit unit Inventory Balance January 1 January 9 $ 0.00 January 25 the FIFO method. Perpetual FIFO: Goods purchased # of Cost per Date units unit Cost of Goods Sold # of units Cost per Cost of Goods sold Sold Inventory Balance Inventory # of units Cost per unit Balance unit January 1 January 9 $ 0.00 January 25 January 26 Totals