Question 7 (2 points) Elliot Co. opened its doors for business on January 1st of 2022. Below is a chart outlining the purchases and sales of inventory for Elliot's first month of business: Date Event Purchase Inventory 20 Units Price 1/3 $20/unit 1/6 Purchase Inventory 8 $25/unit 1/9 Sell Inventory 15 $50/unit 1/11 Purchase Inventory 7 $30/unit 1/14 Purchase Inventory 9 $40/unit 1/15 Sell Inventory 20 $55/unit Elliot Co. uses the perpetual system to account for its inventory. Assuming Elliot Co. uses the FIFO cost-flow assumption, what will the company report as January 2022 Sales Revenue? $1,100 $1,850 $1,925 $1750