product #XYZ during the month of October 2020. ASU uses the perpetual inventory system. October 01 Beginning Balance 25 units 75 units $12 Cost per unit $13 Cost per Unit October 05 Purchase October 13 Sale 40 units October 22 Sale 30 units October 26 Purchase 60 units $14 Cost per Unit October 30 Sale 50 units What is the valuation for "Cost of Merchandise Sold" at October 31 under FIFO? $1,595. $1,740. $1,555. $1,610. $12 Cost per unit $13 Cost per Unit October 05 October 13 Sale 40 units October 22 Sale 30 units October 26 Purchase 60 units $14 Cost per Unit October 30 Sale 50 units What is the valuation for "Inventory" at October 31 under LIFO? $505. $540. $525. $560. October 01 Beginning Balance Purchase 25 units 75 units