A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 440 units. Ending inventory at January 31 totals 170 units. Units Unit Cost Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 3.90 400 90 4.10 120 4.20 Required: Assume the perpetual inventory system is used and then determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Perpetual FIFO: Cost of Goods Sold Inventory Balance Goods purchased #of units sold Cost per Cost of Goods unit # of units Cost per unit Cost per unit Inventory Balance #of units Date Sold 400@ $ 3.90 $1,560.00 January 1 90@ 90 $ 3.90 January 9 4.10 351.00 $ 4.10 351.00 400 @ January 25 S 120 S 4.20 3.90 $1,560.00 90@ 4.10 369.00 $ 4.20= 504.00 120 $2,433.00 3.90 $ 3.90 400@ 0@ January 26 $1,560.00 0@ 90@ $ 4.10= $ 4.10 369.00 $ 4.20 $ 4.20= 120@ 504.00 $2,433.00 Totals