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On December 25, 2020, Steves Sports Shop acquires 50 team jerseys for resale (inventory) for a total cost of $1,500 ($30 each). On January 3,

On December 25, 2020, Steves Sports Shop acquires 50 team jerseys for resale (inventory) for a total cost of $1,500 ($30 each). On January 3, 2021, Steve acquires 10 additional jerseys for a total cost of $310 ($31 each). If Steve uses LIFO and sells 15 jerseys for $150 each, what is the inventory reported on the companys balance sheet dated 12/31/2021?

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