Requieuition A company reports the following beginning inventory and two purchases for the month of January On January 26, the company sells 480 units. Ending inventory at January 31 totals 280 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Unit 300 260 200 Unit Cost $ 6.00 5.00 2.50 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on LIFO. Perpetual LIFO: Goods purchased Cost of Goods Sold Inventory Balance Cost per cost of Goods Date Cost per unit # of units sold # of units Cost per unit Inventory Balance units unit Sold January 1 January 9 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on LIFO. Perpetual LIFO: Goods purchased Inventory Balance Cost of Goods Sold Cost per Cost of Goods units unit Sold of Cost per Inventory Cost per unit # of units Date units Balance January 1 January 9 January 25 January 26