A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 260 units. Ending inventory at January 31 totals 120 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units Unit Cost 230 $ 2.10 50 2.30 100 2.44 Required: Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Periodic FIFO Cost of Goods Sold Cost of Goods Available for Sale # of Cost per Cost of Goods units Available for unit Sale 230 $ 2.10 $ 483 # of units Cost per sold unit 2300 $ 2.10 Cost of Goods Sold $ 483 Inventory Balance # of units Cost per Ending in ending unit Inventory inventory Beg. Inventory Purchases: January 9 January 25 Total 50 1000 380 2.30 2.44| F | 115 244 842 5 0 100 380 2.30 2.44 115 244| 842| $ $ 0 $