QS 5-2 (Algo) Inventory costs LO C1 A car dealer acquires a used car for $17000, with terms FOB shipping point Compute total inventory costs assigned to the used car if additional costs include $200 for transportation in $180 for shipping insurance $750 for car import duties $170 for advertising $2,000 for sales staff salaries $100 for trimming shrubs. Expensed as incurred es Cost Transportation in Import duties Insurance during shipment Advertising Sales staff salaries Trimming shrubs Total Cost Included in Inventory Cost $ 17,000 200 780 180 170 2.000 100 $ 20,400 Required Information Use the following information for the Quick Study below. (Algo) (5-7) [The following information applies 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 310 units. Ending inventory at January 31 totals 130 units. Units 280 Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 60 100 Unit Cost $ 2.60 2.80 2.94 QS 5-5 (Algo) Perpetual: Inventory costing with FIFO LO P1 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method Goods chased Date Perpetual LEO Cost of Goods Sold of units Cost per Cost of Goods sold unit Sold of units Cost per Inventory Balance Cost per of units Inventory unit Balance unit Januaryt January Total January January 25 Towy 25 January 25 Total Juary 20