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 Unite 390 Unit Cost Purchase on January 25 120 $ 3.90 4.00 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. Goods purchased Perpetual FIFO Cost of Goods Sold Date of units Cost per whit #of units sold Cost per Cost of Goods unit Sold # of units Inventory Balance Cost per unit Inventory Balance January 11