QS 5-5 Perpetual: Inventory costing with LIFO LO P1 A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 260 units. 120 units remain in ending inventory at January 31. Units Unit Cost Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 230 $ 2.10 2.30 2.44 50 100 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on LIFO. (Round per unit costs and inventory amounts to 2 decimal places.) Perpetual LIFO Goods purchased Cost of Goods Sold Inventory Balance Cost per units #of units Cost per Cost of Goods Cost per Inventory Balance Date # of units unit unit Sold unit sold January 1 230$2.10 483.00 January 9 $ 2.101= $ 2.301 = $ 2.441= January 25 January 26 @| $ 2.44 | = $ 2.44 @| $ 2.10 $ 2.10 Totals