mpany reports the following beginning inventory and two purchases for the month of January. Also, on January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January I Purchase on January 9 Purchase on January 25 Required Units 320 Unit Cost $3.00 80 100 3.20 =960 =256 * 3.34 =324 1540 Assume the periodic inventory system is used. Calculate the cost of ending inventory assuming the FIFO method.