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Pro Required information The following information apples to the questions displayed below) A company reports the following beginning inventory and two purchases for the

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Pro Required information 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 430 units Ending inventory at January 31 totals 170 units begiming inventory on January 1 Purchase Janary Pechase in Jary 251 Units Unit Cost 330 $3.00 " 130 4.00 4.10 Required: Assume the periodic inventory system is used Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method Cost of Goods Available for Sale Cost of Goods Sold Periodic FIFO of units Cost per unit Cost of Goods Available for Sale of units sold Cost per unit Cost of Goods Sold of units in ending inventory Inventory Balance Cost per Ending Inventory Deg Inventory 300 $ 380 $ 1,482 Purchases 50 400 360 January 25 120 4.10 400 Total 600 S 2334 0

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