QUESTION 17

1. Legoria has the following iron ore inventory records for April:

   Beginning inventory: 1,850 tons @ $8.90 per ton = $16,465

   Purchases:							Sales:
   April 10	770	tons	@	$	8.95		April 5	570	tons
   April 16	970	tons	@	$	9.00		April 14	870	tons
   April 23	770	tons	@	$	9.05		April 20	670	tons
   							April 26	870	tons

   Ending inventory using LIFO in a periodic system is:

   	A.	$12,297.
   	B.	$12,411.
   	C.	$12,351.
   	D.	$12,282.