The Cars, Inc. had the following purchases of inventory during the month of December. There were 1,400 units sold during the month.

Date	Transaction	Units	Unit Costs
12/1	Beginning Inventory	500	$4
12/5	Purchase No. 1	600	$6
12/18	Purchase No. 2	500	$8
12/24	Purchase No. 3	400	$10

Assume that the company uses the LIFO inventory method. What is the dollar value of the ending inventory on December 31? $________________

Select one:

a. $5,600

b. $7,200

c. $12,400

d. $2,600

e. $4,000