Question: Use the following information for the Quick Studies below. ( Algo ) ( 5 - 7 ) Skip to question [ The following information applies

Use the following information for the Quick Studies below. (Algo)(5-7)
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A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 260 units. Ending inventory at January 31 totals 120 units.
Units Unit Cost
Beginning inventory on January 1230 $ 2.10
Purchase on January 9502.30
Purchase on January 251002.44
QS 5-5(Algo) Periodic: Inventory costing with FIFO LO P1
Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method.
Note: Round your per unit costs to 2 decimal places.

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