(Solved): Assume the periodic inventory system is used. Determine the costs assigned to ending inventory whe ...

Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Note: Round your per unit costs to 2 decimal places. 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 350 units. Ending inventory at January 31 totals 150 units. Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. Note: Round your per unit costs to 2 decimal places.