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 Units) 270 Unit Cost $ 2.50 60 100 2.70 2.84 Purchase on January 25 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 Cost of Goods Sold Inventory Balance # of Date # of units Cost per unit units Cost per Cost of Goods unit # of units Cost per Inventory Sold unit Balance sold January 1 January 9 60 $ 2.70 60 @ $ 2.70 = 162.00 $ 162.00 January 25. 100 $ 2.84 @ 60 $ 2.70 = 100 $ 2.84 = January 26 270 $ 2.70 = 0.00 @ $ 2.70 = 162.00 284.00 $ 446.00