On December 31, 2002, the Italian Pasta Company's ending inventory consisted of 100 bags of fettuccine at a cost of $0.75 per bag. Throughout January 2003, the Italian Pasta Company purchased and sold additional bags of fettuccine. Refer to the table below for additional information.

Date Acquired or sold Transaction Quantity Cost per Bag Transaction total

10- Jan-03 Purchase 200 $0.80 $160.00

15-Jan-03 Sale 100 $1.50 $ 150.00

18-Jan-03 Purchase 400 $ 0.65 $260.00

25-Jan-03 Purchase 150 $0.70 $105.00

31-Jan-03 Sale 550 $1.50 $825.00

How many bags of fettuccine should the Italian Past Co. have on hand at January 31, 2003?

Assume that Italian Past Co. uses a FIFO periodic inventory system. Ending inventory at January 31, 2003, is?

Assume that the Italian Past Co. usues LIFO periodic inventory system. Cost of goods sold for January 2003 is?