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 Unit Cost 260 $ 2.40 50 2.60 100 2.74 Required: Assume the perpetual inventory system is used and then determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Inventory Balance Perpetual FIFO Goods purchased # of Cost per Date units unit Cost of Goods Sold #of units Cost per Cost of Goods unit Sold Inventory #of units Cost per unit Balance sold January 1 January 9 January 25 Perpetual FIFO: Goods purchased # of Cost per Date units unit # of units sold Cost of Goods Sold Cost per Cost of Goods unit Sold Inventory Balance # of units Cost per Inventory unit Balance January 1 January 9 January 25 January 26 Totals