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 340 units. Ending inventory at January 31 totals 140 units. quired: sume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on FIFO method. Required Information [The following information applies to the questions displayed below] Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a periodic inventory system. Also, on December 15 , Monson sells 27 units for $20 each. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Required Information [The following information applies to the questions displayed below] Hemming Company reported the following current-year purchases and sales for its only product. Hemming uses a periodic inventory system. (a) Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. (b) Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. (c) Compute the gross profit for each method. 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 340 units. Ending inventory at January 31 totals 140 units. sume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based o LIFO method. Required Information [The following information applies to the questions displayed below] Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a periodic inventory system. Also, on December 15 . Monson sells 27 units for $20 each. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Compute the lower of cost or market for ending inventory applied separately to each $ rodu Required information [The following information applies to the questions displayed below] Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a periodic inventory system. Also, on December 15, Monson sells 27 units for $20 each. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. Note: Round cost per units to 2 decimal places