Galib Company has the following inventory, purchases, and sales data for the month of March.

Inventory: March 1st 200 units @ $4.00 $ 800

Purchases:

March 10th 500 units @ $4.50 2,250

March 20th 400 units @ $4.75 1,900

March 30th 300 units @ $5.00 1,500

Sales:

March 15th 500 units

March 25th 400 units

The physical inventory count on March 31 shows 500 units on hand.

The cost of inventory on hand at March 31 under a periodic inventory system using FIFO method is

• A. $2,150
• B. $2,305
• C. $2,375
• D. $2,540
• E. $2,000
• F. $2,450
• G. $2,500
• H. $2,250