INVENTORY COSTING METHODS 1) Quickie Grocery acquired the following five bottles of Corporate-Cola soft drink: Date Cost Jan. 2 $1.00 Jan. 10 $2.00 Jan. 12 $3.00 Jan. 16 $4.00 Jan. 25 $5.00 A January 31 inventory count revealed that two bottles remained on the shelf. How many bottles were sold in January? Last-in, First-out (LIFO) Date Jan. 2 $1.00 Jan.2 - Jan. 10 $2.00 Jan. 10 Jan. 12 $3.00 Jan. 12 Jan. 16 $4.00 Jan. 25 $5.00 Total $15.00 Cost COGS Inventory What was the value of inventory on January 31? What was the cost of goods sold for January