(45) The following are inventory purchase and sales data for a company: Purchased on January 1: 700 units, $9 cost per unit Purchased on January 16: 300 units, $8 cost per unit Sold on January 31:700 units, $10 selling price per unit There was no inventory before the purchase made on January 1. Assume the company uses LIFO. what is cost of goods sold for January? $5,800 $6,000 O $6,300 $7,000 (46) The following are inventory purchase and sales data for a company: Purchased on January 1:500 units, $9 cost per unit Purchased on January 16: 300 units, $8 cost per unit Sold on January 31: 600 units, $10 selling price per unit There was no inventory before the purchase made on January 1. Assume the company uses FIFO. What is the reported cost of ending inventory at the end of January? $1,600 O $1,700 O $1,800 $2,000