Required information [The following information applies to the questions displayed below.] A company reports the following...
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Required information [The following information applies to the questions displayed below.] A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 300 units. Ending inventory at January 31 totals 130 units. Units Unit Cost Beginning inventory on January 1 270 $ 2.50 Purchase on January 9 60 Purchase on January 25 100 2.70 2.84 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. (Round your per unit costs to 2 decimal places.) Required information [The following information applies to the questions displayed below.] A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 300 units. Ending inventory at January 31 totals 130 units. Units Unit Cost Beginning inventory on January 1 270 $ 2.50 Purchase on January 9 60 Purchase on January 25 100 2.70 2.84 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. (Round your per unit costs to 2 decimal places.)
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