Required information Use the following information for the Quick Study below. (Static) [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. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 320 80 100 Unit Cost $ 3.00 3.20 3.34 QS 5-6 (Static) Periodic: Inventory costing with LIFO LO P1 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. Periodic LEO Cost of Goods Sold Cost of Goods Available for Sale # of Cost per Cost of Goods Available for units unit Sale 320 $ 3.00 $ 960 # of units sold Cost per unit Cost of Goods Sold Inventory Belance of units Cost per Ending In ending unit Inventory Inventory Beg. Inventory Purchases: January 9 January 25 Total 80 100 500 320 3.34 256 334 1,550 $ 0 $ 0 $ 0