A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units Unit Cost 320 $ 3.00 80 3.20 100 3.34 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 of Goods units unit Available for Sale 320 s 3.00 $ Cost per #of units sold Cost per Cost of Goods Sold Inventory Balance # of units Cost per Ending in ending unit Inventory inventory unit 960 Beg Inventory Purchases January 9 January 25 Total 0 320 $ 0 960 0 $ 0 0 $ 0