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 350 units. Ending inventory at January 31 totals 150 units Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 320 80 100 Unit Cost $ 3.00 3.20 3.34 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Goods purchased Date Perpetual LIFO: Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold #of units Cost per unit Inventory Balance # of units Cost per Inventory unit Balance January 1 January 9 Total January 9 January 25 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Goods purchased Perpetual LIFO: Cost of Goods Sold Inventory Balance Date # of # of units Cost per unit Units Cost per Cost of Goods unit Sold # of units Cost per unit sold Inventory Balance January 1 January 9 Total January 9 $ January 25 Total January 25 January 26 at $ 3.00 = Total January 26