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 80 100 Unit Cost $ 3.00 3.20 3.34 Required: Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance of units Cost per in ending Ending unit Inventory Inventory # of Cost of Goods Available for Cost per of units sold Cost per unit Cost of Goods Sold units unit Sale 320 $ 3.00 $ 960 Beg. Inventory Purchases January 9 January 25 Total 80 3.20 3 34 3.34 256 334 1.550 334 150 501 3.34 100 500 100 100 S 5 334 s 150 501