Transactions for the month of January were: Purchases Sales Jan 1 (balance) 3,200 @ $3.20 3 8,800 @ 3.10 Jan 2 2,400 @ $5.50 6 6,400 @ 5.50 7 4,800 @ 3.30 9 4,000 @ 5.50 15 22 52 7,200 @ 3.40 10 1,600 @ 6.00 2,000 @ 3.50 18 5,600 @ 6.00 31 800 @ 6.00 Time left 1:23: Assuming that perpetual inventory records are kept in dollars, the ending inventory on January 31 on FIFO basis is Oa. $17,160 O b. $16,440 Oc$17,880 O d. $16,640