! Required information Use the following information for the Quick Study below. (Algo) [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 450 units. Ending inventory at January 31 totals 170 units Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 410 90 120 Unit Cost $ 4.00 4.20 4.30 QS 5-5 (Algo) Periodic: Inventory costing with FIFO LO P1 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 Sold Inventory Balance Cost of Goods Available for Sale Cost of Goods Cost per #of Available for units unit Sale Cost of #of units #of units sold Cost per unit Cost per unit Goods Sold in ending Ending Inventory Inventory + Beg. Inventory Purchases January 9 January 25 Total 6 2 of 2 Required information Use the following information for the Quick Study below. (Algo) The following information apples 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 450 units. Ending inventory at January 31 totals 170 units. ts Beginning inventory on January 1 Purchase on January Purchase on January 5 Units Unit Cost 410 $4.00 90 120 4.30 Print ferences QS 5-6 (Algo) Periodic: Inventory costing with LIFO LO P1 Assume the periodic inventory system is used Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method Periodic LEO Costel Goods available for Sale Costet Goods Sold Cost of Goods of units # of Cost per Cost of Cost per Available for units unit unit Goods Sold Sale Inventory Balance of its Cost per in ending unit Inventory inventory Ending sold Beg Inventory Purchases January January 25 Total MC