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? $1,600$1,700$1,800$2,000 On January 1 of Year 1 , a company purchased a machine for $10,000. The machine is expected to have a 10year useful life and a salvage value of $1,000. The company uses straight-line depreciation. What is the book value of this machine at the end of Year 6 ? $4,000$4,600$5,000$5,600