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 250 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Date Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. January 1 January 9 Total January 9 January 25 Total January 25 January 26 Total January 26 Goods purchased Number of Cost per units unit Units 230 50 100 Unit Cost $ 2.00 2.20 2.34 Number of units sold Perpetual FIFO: Cost of Goods Sold Cost per Cost of Goods unit Sold Inventory Balance Cost per unit Number of units Inventory Balance $ 0.00

Required information [The following information applies to the questions displaysd below] A company reports the following beginning inventory and two purchases for the month of January On January 26 , the company sells 250 unts. Ending inventory at January 31 totals 130 units. Required: Assume the perpetual imvertory system is used. Determine the conts asvgned to ending inventory when costs are asigned based on the filo o method