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

Beginning merchandise inventory on January 1	120 units at $70 per unit
Purchase on February 14	100 units at $85 per unit
Sale on August 21	120 units

What would be the companys ending merchandise inventory in dollars on December 31 if the company used perpetual, first in, first out (FIFO) method?

Group of answer choices

$9,900

$8,500

$8,400

$7,000