Arham Company uses a periodic inventory system. On March 31, Arham has two plasma TVs on hand at a cost of $1,500 each (serial numbers 1534892 and 1534894). In April, Arham purchases four more identical TVs from Toshiba for $1,450 each (serial numbers 1542631 through 1542634). In May, Arham purchases five more identical TVs for $1,600 each (serial numbers 1550964 through 1550968). In June, Arham sells two of these TVs (serial numbers 1534894 and 1542631). There were no additional purchases or sales during the remainder of the year. Arham Company uses the FIFO method. What is the cost of its ending inventory?

Multiple Choice

• $13,850

• $13,600

• $13,800

• $13,760