Required information [The following information applies to the questions displayed below.] A company reports the followi

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Required Information The Following Information Applies To The Questions Displayed Below A Company Reports The Followi 1 (48.35 KiB) Viewed 15 times

Required information [The following information applies to the questions displayed below.] A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 280 units. Ending inventory at January 31 totals 130 units. Units Unit Cost 250 $ 2.30 Beginning inventory on January 1 Purchase on January 9 60 2.50 2.64 Purchase on January 25 100 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. (Round your per unit costs to 2 decimal places.) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit # of units in ending inventory Cost per unit Beginning Inventory $ 575 Purchases: January 9 150 January 25 264 989 Total 250 $ 60 100 410 2.30 2.50 2.64 $ 250 $ 30 0 280 Cost of Goods Sold 2.30 $ 575 2.50 75 650 $ 30 $ 100 130 Ending Inventory 2.50 $ 2.64 $ 75 264 339