Nichols, Inc. had the following balances and transactions during 2018:

Beginning Merchandise Inventory as of January 1, 2018	300 units at $80
March 10	Sold 60 units
June 10	Purchased 600 units at $85
October 30	Sold 360 units

What would be reported for Ending Merchandise Inventory on the balance sheet at December 31, 2018 if the perpetual inventory system and the

firstin, firstout inventory costing method are used?

A. 40,800

B. 51,000

C. 24,000

D. 4,800