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Our company had the following balances and transactions during the current year related to merchandise inventory. Beginning merchandise inventory on January 1120 units at $70

Our company had the following balances and transactions during the current year related to merchandise inventory.

Beginning merchandise inventory on January 1120 units at $70 per unitPurchase on February 14100 units at $85 per unitSale on August 21150 units

What would be the company's ending merchandise inventory in dollars on December 31 if the company used perpetual, last in, first out (LIFO) method?

Group of answer choices

$4,900

$5,950

$10,950

$12,000

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