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 320 units. Ending inventory at January 31 totals 140 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 290 70 100 Unit Cost $ 2.70 2.90 3.04 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Perpetual FIFO: Cost of Goods Sold Goods purchased Inventory Balance Date Cost per unit # of units # of units sold Cost per Cost per Cost of Goods unit Sold # of units unit Inventory Balance January 1 January 9 Total January 9 January 25 Total January 25 January 26 Total January 26 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Perpetual LIFO: Cost of Goods Sold Goods purchased Inventory Balance Date Cost per # of units Cost per # of units unit sold Cost per unit Cost of Goods Sold # of units Inventory Balance unit January 1 January 9 Total January 9 January 25 Total January 25 January 26 = Total January 26 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round your per unit costs to 2 decimal places.) - Goods purchased Inventory Balance Weighted Average - Perpetual: Cost of Goods Sold # of Cost of Goods units unit Sold sold Date Cost per Cost per # of units # of units unit Cost per unit Inventory Balance January 1 January 9 Average cost January 9 January 25 Average cost January 25 January 26 Total January 26