Jason Retail had the following balances and transactions during 2017.

Beginning Inventory

20

20 units at $ 74

$74

June 10

Purchased 40

40 units at $ 83

$83

December 30

Sold 25

25 units

December 31

Replacement cost $ 85

$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 December31, 2017 using the lowerminus

ofminus

costminus

orminus

market rule.