Inventory valuation - cost basis During January 2021, Alpha Company had the following beginning inventory and purchases for a given product. Date Description Units Unit cost Total cost Jan. 1 Beginning Inventory 80 $2 $160 10 Purchase 70 2.1 147 17 Purchase 90 2.2 198 28 Purchase 50 2.5 125 TOTAL 290 $630 In January 220 units of the same products were sold. Required: Assuming the company uses the FiFo cost flow assumption and a periodic inventory system determine the following: Answer: Beginning Inventory Purchases Cost of Goods Available for Sale Ending Inventory Show value here 69 69 SA St