The following scenario will be used for the next three questions Thorin Corp. began operations in 2017. It is a merchandiser of a single item - Product Q and uses the Periodic Inventory method. The following relates to purchases of Product Q during 2017: Date Units 400 300 600 300 300 100 Cost Per Unit $12 $20 $24 $28 $32 $36 Total Cost $4,800 $6,000 $14,400 $8,400 $9,600 $3,600 $46,8000 1/02/17 6/25/17 10/16/17 12/16/17 Goods avaiable for sale 2,000 At 12/31/17, a physical inventory indicted 420 units of Product Q on hand. Question 28 2 pts Assuming the FIFO method, inventory should be reported in the 12/31/17 balance sheet at: $5,040 $5,600 $13,760 $15,120