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A company reports the following beginning inventory and two purchases for the month of January. On Januar the company sells 450 units. Ending inventory at
A company reports the following beginning inventory and two purchases for the month of January. On Januar the company sells 450 units. Ending inventory at January 31 totals 170 units. Units Unit cost Beginning inventory on January 1 410 $4.00 Purchase on January 9 90 4.20 Purchase on January 25 120 4.30 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are as the FIFO method. Perpetual FIFO: Date Goods purchased Cost of Goods Sold Inventory Balance # of units {:[" Cost per "],[" unit "]:} {:[" \# of "],[" units "],[" sold "]:} {:[" Cost per "],[" unit "]:} {:[" Cost of Goods "],[" Sold "]:} {:[" \# of units "],[410
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