5. The 123 Accounting Company sells accounting videos. The following information has been extracted from the records of 123 Accounting Co.

January 1: Opening Inventory is 60 units @$10/each

January 10: Bought 100 units @$11 each

January 15: Bought 100 units @$13 each

January 20: Sold 220 units @$20 each

January 25: Bought 40 units @ $15 each

If 123 Accounting uses the LIFO cost flow assumption and the periodic method for inventory, the ending inventory for January, is

$1,760

$1,840

None of the above

$1,120

$820

Inventory should be shown on the balance sheet at:

None of the above

Market

Net realizable value

Higher of cost or market

Cost