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A company reports the following beginning inventory and two purchases for the month of January. On January 380 units. Ending inventory at January 31 totals

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A company reports the following beginning inventory and two purchases for the month of January. On January 380 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 340 80 110 Unit Cost $ 3.30 3.50 3.60 Required: Assume the perpetual Inventory system is used. Determine the costs assigned to ending inventory when costs ar the FIFO method Perpetual FIFO: Goods purchased Cost of Goods Sold Inventory Balance of Date It of units Cost per unit Cost per units sold unit Cost of Goods Sold w of units cost per unit Inventory Balance ces January 1 January 9 January 25 January 26 Totals

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