company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 280 units. Ending inventory at January 31 totals 130 units.

	Units	Unit Cost
Beginning inventory on January 1	250	$	2.30
Purchase on January 9	60		2.50
Purchase on January 25	100		2.64

Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method.

Perpetual FIFO: Goods purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit # of units sold Cost per Cost of Goods unit Sold # of units Cost per unit Inventory Balance January 1 January 9 7 0 @ $ 3.30 320 @ 320 @ 70 @ $ 3.10 = $ 3.10 = $ 3.30 = $ 992.00 $ 992.00 231.00 $1,223.00 January 25 100@ $ 3.40 390 @ 3901 @ 100 @ $ $ $ 3.10 = 3.30 = 3.40 = $1,209.00 1,287.00 340.00 $2,836.00 January 26 $1,116.00 360 @ @ @ $ $ $ 3.10 = 3.30 = 3.40 = . 0.00 @ 60 @ 100 @ $ 3.10 = $ 3.30 = $ 3.40) = 0.00 $ 1,116.00 198.00 340.00 $ 538.00 Totals