The following information was available from the inventory record of Rich COmpany for January:

A. assuming that rich mainains periodic inventory records, what should be the inventory at Jan 31, using the fifo, lifo, and average cost inventory method, rounded to the nearest dollar.

B. assuming that rich maintains perpetual inventory records, what should be the inventory at Jan 31, using the fifo, lifo, and average cost inventory method, rounded to the nearest dollar? (avg cost method not required for perpetual inventory)

*the cut off words are Balance

ble from the inventory records of Rich Company for January Unit Cost Total Cost Units Hance at January 1 3,000 $9.77 Purchases: $29,310 January 6 2,000 10.30 20,600 January 26 2,700 10.71 28,917 Sales: January 7 (2,500) January 31 (3,700) nce at January 31 1,500