a company purchased 500 units for $20 each on January 31. It purchased 600 units for $24 each on February 28. It sold a total of 640 units for $40 each from March 1 through December 31. What is the cost of ending inventory on December 31 if the company uses the first-in, first-out inventory costing method.

a)6960

b)2240

c)11040

d)9200