XYZ Bookstore had 500 units on hand at January 1, costing $9 each. Purchases and sales during the month of January were as follows:

Date:		Purchases:	Sales:
January 1	Beginning balance, 500 units @$9 each
January 14			380 @ $15 each
January 17		250 @ $10 each
January 25		250 @ $12 each
January 29			260 @ $17 each
January 31	Ending balance, 360 units

XYZ does not maintain perpetual inventory records. According to a physical count, 360 units were on hand at January 31.

The cost of the inventory at January 31, under the FIFO method is:

Group of answer choices

$3,650

$3,820

$4,100.

$3,240