Question: Use the following information for the Quick Study below. (Algo) (5-7) A company reports the following beginning inventory and two purchases for the month of
Use the following information for the Quick Study below. (Algo) (5-7) A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units.
| Units | Unit Cost | |
|---|---|---|
| Beginning inventory on January 1 | 320 | $ 3.30 |
| Purchase on January 9 | 80 | 3.50 |
| Purchase on January 25 | 100 | 3.64 |
QS 5-6 (Algo) Perpetual: Inventory costing with LIFO LO P1
Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method.
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Please help me with the question marks for Jan 26.
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