What is the value of ending inventory for the first quarter if the company uses a perpetual LIFO inventory valuation method?

A . $14,500.

B . $15,000.

C . $16,000.

A retail company is comparing different approaches to valuing inventory. The company has one product that it sells for $50.

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EXHIBIT 1 Units Purchased and Sold (first quarter) Date Units Purchased Selling Inventory Purchase Price Units Sold Price Units on Hand Jan 2 1,000 $20.00 1,000 Jan 17 500 $50.00 500 Feb 16 1,000 $18.00 1,500 Mar 3 1,200 $50.00 300 Mar 13 1,000 $17.00 1,300 Mar 23 500 $50.00 800 End of quarter totals: 3,000 $55,000 2,200 $110,000 EXHIBIT 2 Comparison of Inventory Methods and Models End of Quarter Valuations March 31 Sales Perpetual LIFO $110,000 Periodic LIFO Perpetual FIFO $110,000 $110,000 Ending inventory $16,000 $13,600 Cost of goods sold $39,000 $41,400 Gross profit $71,000 $68,600 Inventory turnover ratio 279%