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The XYZ Corporation had 3 units of Product X valued at $480 per unit on 01 January 20XX. During 20XX, the company purchased 5 units
The XYZ Corporation had 3 units of Product X valued at $480 per unit on 01 January 20XX. During 20XX, the company purchased 5 units of Product X at $490 per unit in March, 6 units of Product X at $500 per unit in June, and 5 units of Product X at $510 per unit in September. An inventory count under the periodic system disclosed that 6 units of Product X were in inventory on 31 December 20XX. The ending inventory cost using the LIFO method is closest to:
A)$ 3,050
B) $ 2,981
C) 2,910
D) $ 2,515
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