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Required intormation [ The following informat / on applles to the questions displayed below. ] A company reports the following beginning Inventory and two purchases

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Required intormation
[The following informat/on 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 250 units. Ending Inventory at January 31 totals 130 units.
\table[[,Units,Unit cost],[Beginning inventory on January 1,230,$2.00],[Purchase on January 9,50,2.20],[Purchase on January 25,100,2.34]]
Required:
Assume the perpetual Inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method.
\table[[Perpetual FIFO:],[Date,Goodspurchased,Cost of Goods Sold,Inventory Balance],[# 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],[,,,,,,,,],[January 25],[Total January 25],[],[,,,,,,,,],[January 26],[,,,,,,,,],[Total January 26,,,,,,,,]]
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