Use the following information for the Quick Study below. $($Algo$)(5-7)$

$[$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 $270$ units. Ending inventory at January $31$ totals $10$ units.

$\backslash$table$[[,$Units,Unit Cost$],[$Beginning inventory, on January $1,240,$$$2\mathrm{.}20$