Festival Co values its inventory using the average cost method. At the beginning of January it held 110 units of inventory which cost $5 each. The following inventory movements took place during January: 3 January Sold 95 units for $6 each 12 January Purchased 100 units for $5.50 each 15 January Purchased 50 units for $5.75 each 20 January Sold 80 units for $6 each At what amount should inventory be included in Festival Co's statement of financial position at 31 January?

$442.42

$453.90

$480.00

$470.08