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||230||$||2.00|
|Purchase on January 9||50||2.20|
|Purchase on January 25||100||2.34|
Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method.