A company reports the following beginning inventory and two purchases for the month of January. On January 26 , the company sells 280 units. Ending inventory at January 31 totals 130 units. Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. A company reports the following beginning inventory and two purchases for the month of January. On January 26 , the company sells 280 units. Ending inventory at January 31 totals 130 units. Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based o the LIFO method November 1 Dollar Store purchases merchandise for $1,900 on terms of 2/5,N/30, FOB shippLng point, Invofice dated tovenber 1 . Noveaber 5 . Dollar Store pays cash for the novenber 1 purchase. Noveaber? Dollar Store discovers and returns $250 of defective eerchandise purchised on thoveaber 1 , and patd for on Noveaber 5 , for a cash refund. Novenber 10 Dollar Store pays $95 cash for transportation costs for the Movenber 1 purchase. cost $140; the lteas verce not danaged ard were returned to Inventory. Journatize the above merchandising transactions for the Dollat Store assoming it uses a perpetual inventory system and the gross: tmethod Journal entry worksheet Dolfar store purchases merchandise for $1,900 on terms of 2/5,n/20, FoB. shipping polnt, invoice dated November 1 Ames Trading Company has the following products in its ending inventory. Compute lower of cost or market for inventory applied separately to each product. Walberg Associates, antique dealers, purchased goods for $37,900. Terms of the purchase were FOB shipping point, and the cost of transporting the goods to Walberg Associates's warehouse was $1,400, Walberg Assotiates insured the shipment at a cost of 5190 Prior to putting the goods up for sale, they cleaned and refurbished them at a cost of $530. Determine the cost of inventory. Save-the-Earth Company reports the following income statement accounts for the year ended December 31 . Prepare a multiple-step income statement for the year endec December 31 A company reports the following beginning inventory and two purchases for the month of January. On January 26 , the company sells 280 units. Ending inventory at January 31 totals 130 units. ssume the perpetual inventory system is used Determine the costs assigned to ending inventory when costs are assigned base le weighted average method. lote: Round your per unit costs to 2 decimal ploces. 20 8012730