Meisner Co. ordered parts costing 50,000 for a foreign supplier on May 12 when the spot rate was $.21 per stickle. A one-month forward contract was signed on that date to purchase 50,000 at a forward rate of $.24 per stickle. On June 12, when the parts were received and payment was made, the spot rate was $.29 per stickle. At what amount should inventory be reported?

A. 0

B. 10,500

C. 13,500

D. 12,000

E. 14,500