24. TeCo uses the perpetual method and FIFO costing. TeCo's December 31, 20X5 inventory consists of 800 units @ $7. In 20X6, TeCo's merchandise purchases and sales are as follows: Purchases Sales February 24 1,700 @ $ 9 June 11 2,000 @ $25 August 17 2,100 @ $11 September 1 1,600 @ $28 October 19 3,000 @ $14 November 29 2,700 @ $30 TeCo's December 31, 20X6 ending inventory is . . . a. $18,200 b. $12,600 c. $11,700 d. $10,100 25. PaCo begins business in 20X3, uses the periodic method and LIFO costing and makes the following merchandise purchases: January 14 1,300 @ $50 March 11 2,800 @ $55 August 23 1,700 @ $58 November 1 1,200 @ $60 If PaCo's December 31, 20X3 inventory contains 1,500 units, its ending inventory is . . . a. $89,400 b. $76,000 c. $90,000 d. $75,000