Required information Use the following information for the Quick Study below. (Algo) [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 280 units Ending inventory at January 31 totals 130 units, Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 250 60 Unit Cost $ 2.30 2.50 100 2.64 QS 5-5 (Algo) Periodic: Inventory costing with FIFO LO P1 Required: Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method Help Save & Exit Subm Check my work QS 5-5 (Algo) Periodic: Inventory costing with FIFO LO P1 Required: Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method Periodic FIFO Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods #of units Available for unit Sale 2501 s 2.30 s 575 Cost per of units sold Cost per Cost of Goods Sold Inventory Balance #of units Cost per Ending in ending unit inventory Inventory unit Beg Inventory Purchases January 9 January 25 Total 80 100 410 2501 2.64 0 150 284 989 $ 0 $ 0 0 0 $ 0