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0 Required information Use the following information for the Quick Study below. (Algo) (5-7) The following information apples to the questions displayed below) A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 360 units Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January Purchase on January 25 Units 320 70 100 Unit Cost 53.10 3:30 3.40 QS 5-5 (Algo) Perpetual: Inventory costing with FIFO LO P1 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 BIO Cont of Goods Sold Cost per Cost of Goods unit Sold Goods purchased Cost per # of units unit Date of units sold Inventory Balance Cost per of units Inventory unit Balance 320 S 3.10 $ 902.00 January 1 CHIRU. Goods purchased Date Perpetual FIFO: Cost of Goods Sold #of Cost per Cost of Goods units sold unit Sold # of units Cost per Inventory Balance Cost per #of units Inventory unit Balance unit January 1 3201 at $ 3.10= $ 992.00 70 at $ 3.30 January 9 320 at $ 3.10 70 at $ 3.30 = $ 99200 231 00 $1,223.00 Total January 9 100 at $ 3.40 $ 3.10 = January 25 320 at 70 at $ 3.30 $ 99200 231.00 340 00 $1,563.00 100 at S 3.40 = Total January 25 $ 992.00 January 26 320 at $ 3.10 = at $ 330 = o at at 0.00 $ 3.10 $ 3.30 = $ 3.40 = O at $ 3.40 = 100 at Total January 26 0.00 $ 992.00 340.00 $ 340,00