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 380 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units Unit Cost 340$ 3.30 80 3.50 110 3.60 Required: Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance Cost per Cost per Cost of Goods # of Cost per Available for units unit Sale 3407 $ 3.30 $ 1,122 # of units sold unit Cost of Goods Sold # of units in ending Inventory 150 unit Ending Inventory $ 495 380 $ 3.30 $ 1.254 S 3.30 Beg. Inventory Purchases January 9 January 25 Total 80 910 3.50 3.60 ol 936 2,058 3.50 3.60 260 600 280 396 1.930 3.50 3.60 110 570 260 150 560 540 1,945 S $ $ Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. ces Periodic LIFO Cost of Goods Sold Inventory Balance Cost of Goods Available for Sale # of Cost per Cost of Goods units unit Available for Sale 340 $ 3.30 $ 1,122 #of units sold Cost per Cost of Goods Sold unit of units in ending Inventory Cost per unit Ending Inventory Beg. Inventory Purchases January 9 January 25 Total 80 110 530 3.50 3.60 280 396 1.798 $ 0 $ 0 0 0 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round per unit costs to 3 decimal places. Amounts to be deducted should be indicated with a minus sign.) Periodic Weighted Averago Cost of Goods Sold ces Avg. Cost per # of units sold unit Cost of Goods Sold Beginning Inventory Purchase. January 9 Purchase. January 25 Available for Sale January Sales Total Inventory on hand of units Cost per Inventory unit Value 340 $ 3.300 $ 1,122 80P $ 3.500 280 110 $ 3.600 396 530 1,798 0 530 $ 1,798 $ 0