Question: Please help fill out the chart. A company reports the following beginning inventory and purchases for the month of January. On January 26, the company

Please help fill out the chart.

A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 260 units. 120 units remain in ending inventory at January 31.

Units Unit Cost
Beginning inventory on January 1 230 $ 2.10
Purchase on January 9 50 2.30
Purchase on January 25 100 2.44

Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. (Round your per unit costs to 2 decimal places.)

Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance
# of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory
Beg. Inventory 230 $2.10 $483 400 $2.10 $840
Purchases:
January 9 50 2.30 115 50 2.30 115
January 25 100 2.44 244
Total 380 $842 450 $955 0 $0

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