The following information relates to questions 22-25:

A company made the following merchandise purchases and sales during the month of July:

Assume that there was no beginning inventory.

July 4 Purchased 100 units at $20 each

July 7 Sold 60 units

July 15 Purchased 200 units at $22 each

July 22 Purchased 300 units at $25 each

July 28 Sold 400 units

22. If the company uses the FIFO, periodic inventory method, ending inventory would be:

A. $2,000

B. $2,880

C. $3,500

D. Some other amount

23. If the company uses the LIFO, period inventory method, ending inventory would be:

A. $2,000

B. $2,880

C. $3,500

D. Some other amount

24. If the company uses the FIFO, perpetual inventory system, ending inventory would be:

A. $3,500

B. $3,000

C. $2,000

D. Some other amount

25. If the company uses the LIFO, perpetual inventory system ending inventory would be:

A. $3,500

B. $3.000

C. $2,000

D. Some other amount