A company reports the following beginning inventory and 2 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 320 units $10.00 Purchases on January 9 80 5.20 Purchases on January 25 100 5.54 Required Assume the perpetual inventory system is used. Determine the costs assigned to the ending inventory when costs are assigned based on The FIFO method
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