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 FFO method. 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 reponts the following beginning inventory and two puichases for the manth of January. On January 26. the compory sels 350 units Ending hiventory ot January 31 totols 150 units