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. 3 ts Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units Unit Cost 320 $3.00 80 3.20 100 3.34 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on LIFO Answer is complete but not entirely correct. #of Perpetual LIFO: Goods purchased Cost Date units per unit January 1 January 80 9 UD $ 3.20 Cost of Goods Sold Cost #of units Cost of sold per unit Goods Sold Inventory Balance Cost # of units per Inventory unit Balance 320 $ 3.00 $ 960 320 $ 3.00 $ 900 80 $ 3.20 256 51216 Mc GEN Return to question Perpetual LIFO: Goods purchased Cost # of Date units per unit January 1 January 80 @ $ 3.20 9 Cost of Goods Sold Cost # of units Cost of per unit Goods Sold sold Inventory Balance Cost # of units Inventory per unit Balance 320 @ $ 3.00 960 - 320 $ 3.00 S 960 80 @ $ 3.20 256 $ 1,216 January 25 100 $ 3.34 >> 320 @ $3.00 - $ 960 80 @ $ 3.20 256 100 $ 3.34 - 334 $ 1,550 January 26 100 S $ 334 S 334 320 $ 3.00 $ 960 Be 80@ 170 @ $ 3.20 $ 3.00 256 510 $ 1.100 80 X 100 @ Bele $ 3.20 $ 3.34 256 334 $ 1,550 Totals