16 2.5 pts The following information was available from the inventory records of Lily Co. for January: Balance at January 1 Purchases: Units Unit Cost Total Cost 30 $10 $300 January 6 40 14 560 January 26 50 18 900 Sales: January 7 (20) January 31 (30) Assuming that Lily adopts periodic inventory system, what should be the inventory at January 31, using the FIFO method? $580 $860 $900 $1,180