! Required information 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 370 units. Ending Inventory at January 31 totals 150 units Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 330 80 110 Unit Cost $ 3.20 3.40 3.50 Required information Required: Assume the perpetual Inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method Perpetual Efo: Cost of Goods Sold # of units Cost per Cost of Goods Sold sold Goods purchased Cost per # of units unit Inventory Balance Cost per Inventory #of units unit Balance Date unit January 1 $1.05600 330 at $320 BOS 3.40 January 340 $320 80 at $ 3.40 = $1088 00 272.00 51,350.00 Total January 9 110 at $350 $320 $340 at January 25 at $3.50 Total Wanty 25 January 26 Total January 26