A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 270 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 240 60 100 Unit Cost $ 2.20 2.40 2.54 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 # of Date units unit Cost per Cost of Goods Sold Cost per Cost of Goods Sold Inventory Balance # of units Inventory unit Balance # of units sold Cost per unit January 1 240 es 220 = $ 528.00 January 9 60@ $ 2.40 240 $ 2.20 = 60 $ 2.40 - $ 528.00 144.00 $ 672.00 Cost per Cost per # of units sold # of units Date # of units Cost per Cost of Goods unit Sold Inventory Balance unit unit January 1 240 @ $ 2.20 = $ 528,00 January 9 60@ $ 2.40 $ 528.00 240 @ $ 2.20 = 60@ $ 240 = 144.00 $ 672.00 January 25 1001 @ $ 2.54 240 @ $ 220 = 60 @ $ 2.40 = 100@ $ 2.54 = $ 528.00 144.00 254.00 $ 926.00 January 26 $ 0 @ $ 2.20 = @ $2.40 = @ $ 2.54 - 0.00 0.00 0.00 Totals