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Sheridan Bookstore had 510 units on hand at January 1, costing $9 each. Purchases and...

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Accounting

Sheridan Bookstore had 510 units on hand at January 1, costing $9 each. Purchases and sales during the month of January were as follows:

Date Purchases Sales
Jan. 14 445 @ $13
17 250 @ $8
25 250 @ $10
29 290 @ $15

Sheridan does not maintain perpetual inventory records. According to a physical count, 275 units were on hand at January 31. The cost of the inventory at January 31, under the LIFO method is:

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