A company purchased 300 units for $30 each on January 31. It purchased 200 units for $20 each on February 28. It sold a total of 260 units for $110 each from March 1 through December 31. If the company uses the lastin, firstout inventory costing method, calculate the cost of ending inventory on December 31. (Assume that the company uses a perpetual inventory system.)

Question content area bottom

Part 1

A.

$4,800

B.

$240

C.

$7,200

D. 19,200