QUESTION 27 Use the following information for the next three questions: (Question 3 of 3) Mo Company uses a periodic inventory system. Mo sold 420 suits in 2019 for $500 each. Other data for 2019 includes: Merchandise inventory and purchases: (suits inventory) DATE ITEM SUITS UNITS PRICE TOTAL Jan. 1 Beginning Inventory 300 $70.00 $21,000 Mar. 6 Purchase 200 $80.00 $16,000 Aug. 11 Purchase 300 $00.00 $27,000 Oct. 23 Purchase 100 $10.25 $10,000 TOTAL AVAILABLE 900 $74,000 Gross Margin under the LIFO method is: A $174,600. B. $179,400 C. $166,600 $171,400 D E. none of the above