Multiple-Choice Exercise 6-6

Morgan Inc. has the following units and costs for the month of April:

	Units Purchased at Cost	Units Sold at Retail
Beginning inventory, April 1	1,200 units at $25
Purchase 1, April 9	1,500 units at $28
Sale 1, April 12		2,400 units at $45
Purchase 2, April 22	1,000 units at $30

If Morgan uses a perpetual inventory system, what is the cost of ending inventory under FIFO at April 30?

a.$69,500

b.$63,600

c.$38,400