A company reports the following beginning inventory and two purchases for the month of January. On Ja the company sells 250 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 230 50 Unit Cost $ 2.00 2.20 2.34 100 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when assigned based on the FIFO method. Perpetual FIFO: Goods purchased Date # of units Cost per Cost of Goods Sold # of Cost per Cost of Goods units unit sold Sold unit Inventory Balance # of units Inventory unit Balance Cost per January 1 January 9 230@ 2.00 = $ 460.00 January 25 0.00 Perpetual FIFO: Goods purchased Inventory Balance Date # of units Cost per unit Cost of Goods Sold # of Cost per Cost of Goods units unit sold Sold Cost per # of units Inventory Balance unit January 1 2301 $ 2.00= $ 460.00 January 9 $ 0.00 January 25 January 26 Totals