Question 13

The following inventory transactions took place for NPR Corporation for the month of May:

Date		Event		Quantity		Cost/Selling Price
May 1		Beginning Inventory		1,000		$3.55
May 5		Purchase		6,000		3.10
May 10		Purchase		2,000		3.75
May 15		Sale 3,000		6.00
May 20		Sale 2,000		6.00
May 22		Purchase		5,000		3.45
May 24		Purchase		2,000		3.75
May 25		Sale 7,000		6.00

The ending inventory balance for NPR Corporation, assuming the company uses a perpetual inventory system, and a first-in, first-out (FIFO) cost formula is

$15,000.

$14,400.

$12,850.

$13,800.