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BAF Company uses a periodic inventory system and its inventory records for June contain the following information: Beginning Inventory: 300 units @ $2.60 = $
BAF Company uses a periodic inventory system and its inventory records for June contain the following information:
| Beginning Inventory: | 300 units | @ $2.60 | = $ 780 |
| Purchased on June 10 : | 400 units | @ $2.93 | = $ 1,172 |
| Purchased on June 15 : | 500 units | @ $2.52 | = $ 1,260 |
| Purchased on June 28 : | 300 units | @ $3.30 | = $ 990 |
The company sold 1,000 units during June and 500 units were in its ending inventory on June 30. If the company uses the LIFO costing method, what is the amount reported in its ending inventory?
| a. | $1,366. | |
| b. | $1,494. | |
| c. | $1,650. | |
| d. | $2,836 |
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