Required information A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 660 units. Ending inventory at January 31 totals 330 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 650 140 200 Unit Cost $2.00 5.00 4.00 Required: Assume the perpetual inventory system is used and then determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Perpetual FIFO: Goods purchased Inventory Balance Date Cost of Goods Sold # of Cost per Cost of units sold unit Goods Sold # of units Cost per Cost per unit # of units Inventory Balance unit January 1 January 9 January 25 January 26 Totals