Hanlin Company uses the periodic inventory system to account for inventories. Information related to Hanlin Company's inventory at January 31 is given below: January 1 8 16 24 Beginning inventory Purchase Purchase Purchase Total units and cost 400 units @ $12.00 = 800 units @ $12.40 600 units @ $12.80 200 units @ $13.20 2.000 units $4,800 9,920 7,680 2,640 $25,040 (a) Value the ending inventory using the FIFO cost assumption if 600 units remain on hand at January 31 $ 1 Ending Inventory Submit Answer Attempts: 0 of 1 used