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. Units Unit Cost Beginning inventory on January 1 320 Purchase on January 9 80 Purchase on January 25 100 $ 4.30 4.50 4.64 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. > Answer is complete but not entirely correct. Perpetual LIFO: Goods purchased Cost of Goods Sold Inventory Balance Cost Date # of units # of units per sold Cost per unit Cost of Goods Sold Cost Inventory # of units per unit Balance unit January 1 320 at $ 4.30 $ 1,376 80 at $ 4.50 320 at $ 4.30 $ 1,376 January 9 80 at $ 4.50 |= 360 Total January 9 $ 1,736 100 at $ 4.64 January 25 320 at $ 4.30 $ 1,376 80 at $ 4.50 360 100 at $ 4.64 = 464 Total January 25 $ 2,200 January 26 Total January 26 100 at 80 at 320 at AAA 4.64 = $ 464 320 at $ 4.50 = 360 80 at 4.30 1,376 100 at $ 2,200 AAA 4.30 = $ 1,376 4.50 = 360 4.64 = 464 $ 2,200