Concord Bookstore had 510 units on hand at January 1, costing $9 each. Purchases and sales during the month of January were as follows: Date Purchases Sales Jan. 14 370 @ $14 17 300 @ $10 25 300 @ $8 29 200 @ $16 Concord does not maintain perpetual inventory records. According to a physical count, 540 units were on hand at January 31. The cost of the inventory at January 31, under the FIFO method is: