ve 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 260 units. Ending Inventory at January 31 totals 120 units. Beginning inventory on January 3 Purchase on January 9 Purchase on January 25 units 230 50 100 Unit Cost $ 2.10 2.30 2.44 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 Costo Goods Sold Costol Goods Available for Sale #of Cost per Cost of Goods Available for units unit Sale of units sold Cost per Inventory Balance # of units Cost per Ending in ending hit Inventory inventory Cost of Goods Sold unit Beg, Inventory Purchases January O 25C ENG 2 RE arch 44 1328 29/11/2021