The following information was available from the inventory records of Queen Company for July: Units 30,000 Unit Cost 2.25 Balance at July 1 Purchases: Total Cost 67,500 July 6 July 26 20,000 27,000 2.55 2.60 51,000 70,200 Sales: July 7 July 31 (25,000) (40,000). Balance at July 31 12,000 What should be the inventory reported on Queen's July 31 statement of financial position using the FIFO inventory method? 29,400. O 27,000. O 31,200. 31,500