JBL Company had 12,000 units of product X on hand at January 1, costing P25 each. Purchases of product X during the month of January were: Jan 10 - 17,000 units at P24; Jan. 19 - 22,000 units at P23; Jan. 29 - 7,000 units at P25. A physical count on January 31 showed 22,000 units of product X on hand. Which of the following statements is INCORRECT? *

a. During January, the cost of sales under the FIFO is greater than under the simple average.

b. The goods available for sale using FIFO perpetual inventory system is higher than using the simple average under the periodic inventory system.

c. At January 31, the cost of inventory under the simple average is higher than cost of inventory using the FIFO.

d. The average cost per unit of January 31 inventory under FIFO is P23.64.