QUESTION 22 The following information was available from the inventory records of Marsh Company for January: Units Unit Cost Total Cost Balance at January 1 3,000 $9.77 $29,310 Purchases: January 6 2,000 10.30 20,600 January 26 2,700 10.71 28,917 Sales: January 7 January 31 Balance at January 31 (2,500) (3,200) 2,000 A. If Marsh uses a periodic inventory system, compute Cost of Goods Sold for January and the value of Inventory on January 31 under the FIFO and Average Cost methods. Round answers to the nearest dollar. FIFO Average Cost Inventory Cost of Goods Sold B. If Marsh uses a perpetual inventory system, compute the amount debited to Cost of Goods Sold on January 7 under the FIFO and Average Cost methods. Round answers to the nearest dollar. FIFO Average Cost Cost of Goods Sold