Question 2

BetaCo just began business and made the following four inventory purchases in June:

Jan 1 125 units $ 1,040

Jan 10 210 units 1,660

Jan 15 200 units 1,480

Jan 28 110 units 1,120

$5,600

A physical count of merchandise inventory on January 31 reveals that there are 197 units on hand. Using the LIFO inventory method, what is the value of the ending inventory on January 31?

A.) $1,691

B.) $1,702

C.) $1,609

D.) $1,594