Use the following information to answer the next three questions The following information was available from the inventory records of Rich Company for January: Total Cost Units 1,000 Unit Cost $6 $6,000 Balance at January 1 Purchases: 2,000 2,500 12 16 24,000 40,000 January 6 January 26 Sales: (2,500) (2,000 January 7 January 3:1 Balance at January 31 Assuming that Rich uses perpetual inventory records, what should be the inventory at January 31, using the LIFO inventory method? A. $16,000 B. $ 6,000 C. $11,000 D. $15,000 Assuming that Rich uses periodic inventory records, what should be the inventory at January 31, using the LIFO inventory method? A. $ 6,000 B. $16,000 C. $11,000 D. $15,000