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Venus Wholesale Company started carrying a new product in December. Purchases and sales of this product during the month were: December 20: Purchased 180 units

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Venus Wholesale Company started carrying a new product in December. Purchases and sales of this product during the month were: December 20: Purchased 180 units at $88 per unit. December 26: Sold 170 units. December 28: Purchased 180 units at $96 per unit. Venus uses a periodic inventory system and the LIFO method. What is the cost of the inventory of this product that is on hand at the end of December? $16,800. $18,160. $16,560. $15,840

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