QS 6-5 Perpetual: Inventory costing with LIFO LO P1 A company reports the following beginning inventory and two purchases for the month of January. On January 26, the com 250 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 230 50 100 Unit Cost $ 2.00 2.20 2.34 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned LIFO. Perpetual LIFO: Goods purchased Cost per # of Date units unit # of units sold Cost of Goods Sold Cost per Cost of unit Goods Sold Inventory Balance Cost per Inventory # of units unit Balance January 1 January 9 January 25 January 26 Totals