A company's inventory records Indicate the following data for the month of January:

$\backslash$table$[[$Date$,$Activities,Units Acquired at Cost,Units Sold at Retail$],[$January $1,$Beginning inventory,$550$ units @ $$18=$$$9,900,],[$January $8,$Purchase,$530$ units @ $$20=$$$10,600,],[$January $12,$Sale,$590$ units @ $$22=$$$12,980,980$ units @ $$70$