mation 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 290 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 260 60 Unit Cost $ 2.40 2.60 2.74 100 QS 5-6 (Algo) Perpetual: Inventory costing with LIFO LO P1 Assume the perpetual inventory system is used Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method Date Perpetual LIFO: Goods purchased Cost of Goods Sold W of units Cost per # of units Cost of Goods unit sold unit Sold Cost per Inventory Balance Cost per Inventory Balance of units ursit QS 5-6 (Algo) Perpetual: Inventory costing with LIFO LO P1 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method Perpetual LIFO Goods purchased Cost of Goods Sold # of units Cost per # of units Cost per cost of Goods unit sold unit Sold Date Inventory Balance Cost per Inventory of units Balance unit 16 January 1 January 9 Total January 9 January 25 Total January 25 quired information January 1 January 9 Total January 9 January 25 Total January 25 January 26 Total January 26