Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on LIFO. 3.A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 310 units. Ending inventory at January 31 totals 130 units. Unit Unit S Cost Beginning inventory on 28 $2.60 January 1 0 Purchase on January 9 60 2.80 Purchase on January 25 10 0 2.94 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. 4. Required information [The following information applies to the questions displayed below. ] Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan 1 Beginning inventory 230 @ $15.5 _- 3,56 PO 5 Jan 1 0 Sales 18 unit 24.5 0 @ $ 0 Jan2 Purchase 190 unit @ 14.5 _ 2,75 S PO 5