Calculate the unit price of the closing inventory and its total cost The company uses the FIFO method Date Transactions Units Sold Unit Cost ($) Total Cost ($)
Jan 09 Beginning Inventory 700 10 5,000
Jan 18 Purchase 500 10.50 5,250
Jan 27 Sale 800 ?
Jan 31 Closing 400 ?

The unit price of the closing inventory is
and the total cost is
.