Lawson Company had 500 units on hand at January 1, costing $9 each. Purchases and sales during the month of January were as follows: Date Purchases Sales Jan.14 380 @ $15 722 17 250 @ $10 25 250 @ $12 29 260 @ $17 Lawson does not maintain perpetual inventory records. According to a physical count, 360 units were on hand at January 31. The value of the ending inventory on January 31, under the LIFO method, is: Select one: a. $3,240. b. $5,900 c. $6,400. O d. $4,100. The cost flow assumption adopted must be consistent with the physical movement of the goods Select one: a. TRUE O b. FALSE