MyEducator Tasks $950,000 (46) The following are inventory purchase and sales data for a company: Purchased on January 1:500 units, $9 cost per unit Purchased on January 16: 300 units, $8 cost per unit Sold on January 31: 600 units, $10 selling price per unit There was no inventory before the purchase made on January 1. Assume the company uses FIFO. What is the reported cost of ending inventory at the end of January? O $1,600 O $1,700 O $1,800 O $2,000 47) On January 1 of Year 1, a company purchased a machine for $20,000. The machine is expected to have a 10-veac useful life and a salvare value of $1.000 Media mode ery Beats Audie The Nooking & app www 3 100% 52F Sunny 509PM 1/27/2022 x MyEducator Tasks $950,000 (46) The following are inventory purchase and sales data for a company: Purchased on January 1:500 units, $9 cost per unit Purchased on January 16: 300 units, $8 cost per unit Sold on January 31: 600 units, $10 selling price per unit There was no inventory before the purchase made on January 1. Assume the company uses FIFO. What is the reported cost of ending inventory at the end of January? O $1,600 O $1,700 O $1,800 O $2,000 47) On January 1 of Year 1, a company purchased a machine for $20,000. The machine is expected to have a 10-veac useful life and a salvare value of $1.000 Media mode ery Beats Audie The Nooking & app www 3 100% 52F Sunny 509PM 1/27/2022 x