Carla Company uses the perpetual inventory system. The following information is available for January of the current year, when Carla Company sold 1,600 units of inventory on January 14.

Units.... Cost/Unit..... Total Cost Inventory Jan 1st. 1,500..... $0.25.... $375 Purchases Jan 13th 1,100....... $0.27....... 297

Using the FIFO method, calculate Carla Company's cost of goods sold for January and its January 31 inventory.