A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 320 units. Ending inventory at January 31 totals 140 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 290 70 100 Unit Cost $ 2.70 2.90 3.04 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 Available for Sale Cost of Goods Sold Cost per # of units Cost per Cost of Goods Available for Sale # of units sold Cost per unit Inventory Balance # of units in ending Ending unit inventory Inventory Cost of Goods Sold unit Beg. Inventory $ 0 Purchases: o January 9 January 25 Total 0 O 0 $ 0 $ 0 0 $ 0