Pretty Plates Co. sells a unique metal plate that can be used on different types of stoves (induction, electric, gas). The company buys these plates from the manufacturer Tech-Stuff Co. The company uses a periodic inventory system. At the end of August 2020, the company had 20 plates on hand. The following events took place during August: Aug 1 Aug 15 On hand, 10 plates @ $20 $2 each Purchases 90 plates $270 @ $3 each Goods available for $290 sale If Pretty Plates Co. uses the LIFO inventory method, how much is inventory on the balance sheet as of August 31st? Select one alternative: $50 $40 $58 $60