A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 320 BO 100 Unit Cost $ 3.00 3.20 3.34 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 per Cost of Goods Sold #of units Cost per Cost of Goods sold unit Sold #ot units Date 8 of units Cost per unit Inventory Balance January 1 320 @ January 9 B01 5 3.20 2561 80@ $ 3.20 256.00 $ 256.00 January 25 1001 @ $ 3.34 201 $ 3.20 - $ 3.34 @ January 26 Totals