QS 5-4 Perpetual: Inventory costing with FIFO LO P1 A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 320 units. Ending inventory at January 31 totals 140 units. 187 points Units 290 Unit Cost 2.70 Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 3405 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. eBook Perpetual FIFO: Goods purchased Date of Cost per units unit Cost of Goods Sold Inventory Balance units Cost per cost of Goods Sold of units cost per unite unit Inventory Balance sold January 1 January 9 January 25 January 26