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! Required information [ The following information applles to the questions displayed below ] A company reports the following beginning inventory and two purchases for

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Required information
[The following information applles 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 270 units. Ending inventory at January 31 totals 130 units.
\table[[Begining inventory on January 1,Units,Unit cost],[Purchase on January 9,60,2.20],[Purchase on January 25,108,2.40],[2.54,,]]
Required:
Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FFO method.
\table[[,,,,Perpetual,FIFO:,,,],[,Goods PI,rchased,,ost of Go,ds sold,,nton Balla,],[Date,# of units,\table[[Cost per],[unit]],\table[[#of],[units],[sold]],\table[[Cost per],[unit]],\table[[Cost of Goods],[Sold]],# of units,\table[[Cost per],[Unit]],\table[[Inventory],[Balance]]],[January 1,,,,,,,,],[January 9,,,,,,,,],[,,,,,,,,],[Total January 9,,,,,,,,0.00],[,,,,,,A,,],[January 25,,,,,,41.,,],[,,,,,,,,],[Total January 25,,,,,,,,],[,,,,,,,,],[Janusry 26,,,,,,,,],[,,,,,,,,7],[Total January 26,,,,,Lallunder,,,]]
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