Date Purchases Sales Jan. 14 390 @ $14 17 240 @ $10 25 240 @ $11 29 290 @ $16 Waterway does not maintain perpetual inventory records. According to a physical count, 260 units were on hand at January 31. The cost of the inventory at January 31, under the FIFO method is: $2600 $2860 $2840. O $2340. Concord Bookstore had 550 units on hand at January 1, costing $9 each. Purchases and sales during the month of January were as follows: Date Purchases Sales Jan. 14 445 @ $15 17 210 @ $8 25 210 @ $10 29 230 @ $15 Concord does not maintain perpetual inventory records. According to a physical count, 295 units were on hand at January 31. The cost of the inventory at January 31, under the LIFO method is: O $2780. O $2360 O $2655. $2950