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 430 units. Ending inventory at January 31 totals 170 units Beginning inventory on January 1 Purchase on January 9 Units 390 Unit Cost $ 3.80 90 4.00 Purchase on January 25 120 4.10 QS 6-5 (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. 1 Required information of 3 aces Goods purchased Cost of Goods Sold Date # of units Cost per unit #of units sold Cost per Cost of Goods unit Sold of units unit Inventory Balance Cost per Inventory Balance January 1 390 $ 3.00 $1482.00 January 9 Total January 9 January 25 Total January 25 January 26 Total January 26 90 at $4.00 120 at $ 4.10 300 at $3.00 $1,482.00 00 $4.00- 300.00 $1.842.00 300 at $3.00 90 at $4.00- 120 at $4.10- $1,482.00 360.00 492.00 $2.334.00 390 at $ 3.80- $4.00- $1,482.00 at $ 3.80 0.00 at $400- oat $4.10 0.00 at $ 4.10 $1,482.00 Check my work Prey 1 2 3 of 6 Next > 102