Castle TV, Inc. purchased 2,600 monitors on January 5 at a per-unit cost of $210, and another 2,600 units on January 31 at a per-unit cost of $294. In the period from February 1 through year-end, the company sold 4,500 units of this product. At year-end, 700 units remained in inventory.

Assume that Castle TV, Inc. uses the FIFO flow assumption. The cost of the 700 units in inventory at year-end is:

Multiple Choice

• $176,400.

• $147,000.

• $352,800.

• $205,800.

Assume that Castle TV, Inc. uses the LIFO flow assumption. The cost of the 700 units in the year-end inventory is:

Multiple Choice

• $352,800.

• $205,800.

• $176,400.

• $147,000.