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. 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 Cost per unit # of units Units 310 70 100 # of units sold Unit Cost $ 2.90 3.10 3.24 Perpetual FIFO: Cost of Goods Sold Cost per Cost of Goods unit Sold Inventory Balance Cost per unit # of units Inventory Balance $ 0.00

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 totais 140 units. quired: sume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based 0 FIFO 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. ssume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based o LIFO method