Assume that we use a perpetual inventory system and that five identical units are purchased at the following four dates and costs:

April 5	$10
April 10	$12
April 15	$14
April 20	$16
April 22	$17

One unit is sold on April 25. The company uses the last-in, first-out (LIFO) inventory costing method.

Identify the cost of the ending inventory on the balance sheet.

	Cost of the ending inventory:______________