A company has the following purchases and sales during October. Using the FIFO periodic inventory method, what is the value of the inventory on October 15 after the sale?

Date	Activities	Units Acquired at Cost	Units Sold at Retail
October 1	Beginning inventory	15 units @ $32 = $480
October 5	Purchase	10 units @ $33 = $330
October 12	Purchase	20 units @ $34 = $680
October 15	Sales		30 units sold

Multiple Choice

$340

$260

$510

$880

$1,490