The inventory of the Shenandoah Gravel Company on June 30 shows 1,000 tons at $9 per ton. A physical inventory on July 31 shows a total of 1,100 tons on hand. Revenue from sales of gravel for July totals $102,000. The following purchases were made during July: July 8 5,000 tons @ $10 per ton July 13 1,000 tons @ $11 per ton July 22 900 tons @ $12 per ton 1. Compute the inventory cost as of July 31 using (a) LIFO and (b) FIFO.