Return to question QS 6-4 Perpetual: Inventory costing with FIFO LO P1 A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 440 units. Ending inventory at January 31 totals 170 units. Unit Cost $ 3.90 Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 400 90 120 4.10 4.20 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. & Answer is complete but not entirely correct. Perpetual FIFO: 6 6:24 PM 10/16/2020 Mc Graw Hill Education lo w N Return to repeludiriru. 2 Goods purchased Cost # of per units unit Cost of Goods Sold Cost # of units Cost of per sold Goods Sold unit Date Inventory Balance Cost # of units Inventory per Balance unit $ 400 @ $ 3.90 1,560.00 33 ints January 1 400 @ $ 3.90 January 9 90 @ $ 4.10 1.560.00 369.00 90 @ $ 4.10 1.929.00 ..... 400 a $ 3.90 January 25 120 @ $ 4.20 1,560.00 369.00 504 00 $ 4.10 $ 420 ger @ 120 @ 2.433.00 0@ $ 3.90 400 $ 3.90 1560.00 January 26 2 of 12 Next > Ac Graw All ducation w P