Beginning inventory, purchases, and sales for Item ER27 are as follows:

January 1		Inventory	77 units @ $17
9		Sale	63 units
13		Purchase	92 units @ $19
25		Sale	18 units

Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on January 25 and (b) the inventory on January 31.

a. Cost of merchandise sold on January 25	$fill in the blank 1
b. Inventory on January 31	$fill in the blank 2