Links A 1 Name: okma ading 2 4 MASEI0 B Your score The K E F G H Company reported the following January purchases and sales data for its only product. The company uses a perpetual inventory system. REQUIRED: Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Each yellow cell must include a formula using cell references, EVEN IF THE FORMULA RESULT IS ZERO. Units purchased Cost per unit Total Cost Units Sold Selling Price Total Sales of Purchase per unit 9 Date 10 Jan. 1 Beginning inventory 400 $10 $4,000 11 Jan. 11 Sales 320 $30 $9,600 12 Jan. 15 Purchase 600 12 7,200 13 Jan. 17 Sales 480 $30 14,400 14 Jan. 21 Purchase- 650 14 9,100 15 Jan. 23 Sales 590 $30 17,700 16 Totals 1,650 $20,300 1,390 $41,700 17 18 19 Cost of Goods Sold - Perpetual FIFO: Units Sold Cost per unit Cost of Goods Sold 20 21 Calculate cost of goods sold for the January 11 sale of 320 units. 23 24 25 27 28 29 30 32 Total Cost of Goods Sold for January -1,390 units 33 34 Ending Inventory - Perpetual FIFO: 35 Units in Ending Inventory Cost per unit Inventory Balance 36 37 38 39 Total Ending Inventory for January - 260 units 40 41