Check my QS 5-5 Periodic: Inventory costing with LIFO LO P1 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 320 80 100 Unit Cost $3.ee 3.20 3.34 Required: Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance Cost per Cost of Goods Available for Sale #of units Cost per unit Cost per # of units sold Cost of Goods Sold # of units in ending inventory Ending Inventory unit unit Beg. Inventory Purchases: January 9 January 25 Total Activate Window Go to Settings to activa ORI search C