MiCo opens for business in 20X3 and uses the periodic method and LIFO costing. On December 31, 20X3, there are 900 units of merchandise in MiCo's inventory @ $11. MiCo's 20X4 merchandise purchases are as follows:

February4 1,200@$14

March10 2,000@$15

July7 3,300@$18

October21 4,200@$20

If MiCo's December 31, 20X4 physical count shows 1,500 units in ending inventory, then ending inventory on MiCo's balance sheet will be . . .

a.$21,300 b. $30,000 c. $18,300 d.$21,900