Boulevard Home Furnishings had the following balances and transactions during 2024.

Beginning Inventory	15 units at $75
June 10	Purchased 30 units at $83
December 30	Sold 25 units
December 31	Replacement cost $85

The company maintains its records of inventory on a perpetual basis using the FIFO inventory costing method. Calculate the amount of ending Merchandise Inventory at December 31, 2024 using the

lowerofcostormarket

rule.

Question content area bottom

Part 1

A.$ 2 comma 550

$2,550

B.$ 1 comma 660

$1,660

C.$ 1 comma 700