I am having trouble with part B of this assignment. I thought I had the right answer of $24.8 variable cost and $390,600 for the operating income but...

75 @ $77

Tool City does not maintain perpetual inventory records. According to a physical count, 150 cordless screwdrivers were on hand at January 31, 2015.

a.        What is the cost of the inventory at January 31, 2015 under the FIFO method?

January 25                  100 @ $48 = $4,800

January 14                  100 @ $47 = $4,700