Melissa Company uses the periodic inventory system to account for inventories. Information related to Melissa Company's inventory at January 31 is given below: January 1 8 16 Beginning inventory Purchase Purchase Purchase Total units and cost 395 units X $11.80 800 units $12.00 600 units * $13.10 - 200 units X $13.20 1,995 units $4,661 9,600 7,860 2,640 $24.761 24 Value the ending inventory using the FIFO cost assumption if 600 units remain on hand at January 31. Ending Inventory $ Value the ending inventory using the weighted average cost method if 600 units remain on hand at January 31. Round averes Atv A