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 Units Unit Cost $3.00 3.20 3.34 Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 320 80 100 Required: Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance Periodic LIFO Cost of Goods Available for # of units in ending inventory #of Cost per unit # of units Cost per unit Cost of Cost per unit Ending Inventory units sold Goods Sold Sale 320 S Beg. Inventory 3.00 960 Purchases: January 9 80 3.20 256 334 January 25 100 3.34 500 $ S 0 Total 1,550 0 0