Sed Help Save & Exit Submit QS 6-7A Periodic: Inventory costing with FIFO LO P3 A company reports the following beginning inventory and two purchases for the month of January, On January 26, the company sells 370 units. Ending inventory at January 31 totals 150 units. Units Unit Cost Beginning inventory on January 1 330 $ 3.20 Purchase on January BE 3.40 Purchase on January 25 110 3.50 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 Available for Sale of Cost per Cost of Goods Available for Sale $ 0 Cost of Goods Sold Inventory Balance # of units Cost per Cost of of units Cost per Ending sold unit Goods Sold in ending unit Inventory invery Beg Inventory Purchases January 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 Costet Goods Available for Sale #of Cost of Goods Sold # of units Cost per Cost of sold unit Goods Sold Cost per Inventory Balance #ol units in ending Ending unit inventory Inventory Cost of Goods Available for Sale $ 0 Cost per unit Beg Inventory Purchases January 9 January 25 Total 0 0 $ 0 $ 0 0 $ 0