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A company just starting business made the following four inventory purchases in June: Date Number of units purchased Total cost June 1 120 units $

A company just starting business made the following four inventory purchases in June:

Date Number of units purchased Total cost
June 1 120 units $ 370
June 10 240 units 600
June 15 240 units 600
June 28 150 units 490
$2060

A physical count of merchandise inventory on June 30 reveals that there are 350 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is

a) $1065

b) $420

c) $995

d) $945

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