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 270 units. Ending Inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 245 Unit Cost 68 2.48 139 2.54 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. Goods purchased Date Cost # of units # of units per sold unit January 1 80 at $2.40 January 9 Total January 9 January 25 Total January 25 January 26 Total January 28 100 at $2.54 Answer is complete but not entirely correct. Perpetual LIFO: Cost of Goods Sold Inventory Balance Cost Cost per unit Cost of Goods Sold # of units per Inventory Balance unit 240 at $ 2.20 $ 528 240 at S 2.20 E S 528 80 at 5 2.40 = 144 $ 872 240 at 69 2.20 ===1 S 528 80 at 5 2.40 =1 144 100 at 69 2.54 = 254 S 928 120 x at $ 2.54 60 at $ 2.40 270 x at $ 2.00 = 305 120 at $ 2.20 B S 284 144 0 at S 2.40 594 0 at $ 2.54 $ 1,043 S 264