Multiple Choice Question 49 Vaughn Bookstore had 550 units on hand at January 1, costing $8 each. Purchases and sales during the month of January were as follows: Purchases Date Jan Sales 390 @ $15 14 17 25 29 220 @ $10 220 @ $12 300 @ $16 Vaughn does not maintain perpetual inventory records. According to a physical count, 300 units were on band at January 31. The cost of the inventory at January 31, under the FIFO method is: $3440 $3600 $2400 $3000