32 Impala Inc. completed the following inventory transactions during the month of January Date Item Quantity Unit Cost January 1 Balance 20 $50 January 4 Purchase 60 $60 January 22 Purchase $64 During the month Impala Inc. sold 90 units of inventory What is the cost of goods sold under LIFO method for the month of January? SON 35 Multiple Choice $5,540 $1,600 55,240 $1.300