Lopez Company sells chairs that are used at computer stations. Its beginning inventory of chairs in Year 1 was 100 units at $60 per unit. During the year, Lopez made two purchases of this chair. The first was a 150-units purchase at $68 per unit; the second was a 200-unit purchase at $72 per unit. During Year 1, it sold 270 chairs at $120 each. During Year 2, Lopez made two additional purchases of this chair. The first was a 100-unit purchase at $73 per unit; the second was a 300-unit purchase at $75 per unit. During Year 2, it sold 215 chairs at $125 each. Lopez applies the FIFO cost flow assumption. What is the amount of ending inventory Lopez should report for Year 1? What is the amount of ending inventory Lopez should report for Year 1? $14,440 $12,960 $21,600 $22,500