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Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers: Date Transaction Number of Units Cost

Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers:

Date Transaction Number of Units Cost per Unit
1/1 Beginning Inventory 150 $ 850
5/5 Purchase 250 $ 950
8/10 Purchase 350 $ 1,050
10/15 Purchase 225 $ 1,100

During the year, Lauer sold 875 laptop computers. What was ending inventory using the FIFO cost flow assumption?

$105,000.

$109,500.

$85,000.

$110,000.

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