_{JUST #7}

14 29 City Stationers, Inc., had 200 calculators on hand at January 1, costing $18 each. Purchases and sales of cal- culators during the month of January were as follows: Date Purchases Sales Jan. 12 150 @ $28 100 @ $20 100 $22 30 100 @ 392 City does not maintain perpetual inventory records. According to a physical count, 150 calculators were on hand at January 31. 16. The cost of the inventory at January 31, under the FIFO method is a. $ 400 b. $2,700 c. $3,100 d. $3,200 / 7. The cost of the inventory at January 31, under the LIFO method is a. $ 400 b. $2,700 c. $3,100 d. $3,200