Hammer Co. is in the business of buying hammers at wholesale prices and reselling them at retail prices. The following information for the month of February was collected by Hammer Co.'s Purchase and Sales departments:

Date	Transactions	Units	Unit cost/sales price
Feb 4	Beginning inventory	300	$	15
9	Purchase	100		18
12	Sale	320		27
17	Purchase	150		20
26	Sale	100		30

If the company uses a FIFO cost flow assumption, what was the cost of the inventory on hand after the February 26^th sale if a periodic inventory system and a perpetual inventory system was used?

Multiple Choice

Periodic System $2,200 Perpetual System $2,600

Periodic System $2,600 Perpetual System $2,200

Periodic System $2,200 Perpetual System $1,950

Periodic System $2,600 Perpetual System $2,600

None of the other alternatives are correct