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Need help. A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 440 units.

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A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 440 units. Ending inventory at January 31 totals 170 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 400 90 120 Unit Cost $ 3.90 4.10 4.20 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on LIFO. Perpetual LIFO: Goods purchased Inventory Balance Cost per Cost of Goods Sold # of units Cost per Cost of Goods unit Sold sold # of units Cost per Date # of units Inventory Balance unit unit January 1 January 9 $ 0 January 25 January 26 Totals

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