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Quayle Bookstore had the following beginning inventory, purchases, and sales during the month of January:...

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Accounting

Quayle Bookstore had the following beginning inventory, purchases, and sales during the month of January:

Date Beginning Inventory/Purchases Sales

Jan. 01 500 @ $9

14 380 @ $15

17 250 @ $10

25 250 @ $12

29 260 @ $17

Quayle uses the perpetual inventory method. According to a physical count, 360 units were on hand at January 31 (ending inventory).

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

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