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ignment 0 Saved A company reports the following beginning Inventory and two purchases for the...

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Accounting

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ignment 0 Saved A company reports the following beginning Inventory and two purchases for the month of January. On January 26, the company sells 250 units. Ending Inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 230 50 Unit Cost $ 2.00 2.20 52.34 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Perpetual FIFO: Goods purchased Cost of Goods Sold Date # of units Cost per unit # of units sold Cost per Cost of Goods unit unit Sold Inventory Balance # of units Cost per Inventory unit Balance January 1 January 9 January 25 January 26 assume the perpetual Inventory system is used. Determine the costs assigned to ending Inventory when costs are a the FIFO method. Perpetual FIFO Goods purchased Cost per unit Cost of Goods Sold Cost per Cost of Goods unit Sold Date # of units sold units Inventory Balance #of units Cost per Inventory unit Balance January 25

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