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 350 units. Ending inventory at January 31 totals 150 units. QS 5-5 (Algo) Perpetual: Inventory costing with FIFO LO P1 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method