Question 37 Charles Industries has the following inventory information for 2021: January 1 Beginning Inventory 40 units at $120 per unit June 15 Purchases 240 units at $112 per unit November 20 Purchases 120 units at $115 per unit Charles sold 300 units during 2021. Assuming that a periodic inventory system is used, what is the value of ending inventory at December 31 on a LIFO basis? $11.370 4 $11.500 $11.520 O $33.960