Williams Company had the following balances and transactions during 2014.

Beginning Inventory	10 units at $70
June 10	Purchased 20 units at $80
December 30	Sold 15 units
December 31	Replacement cost $68

Williams maintains its records of inventory on a perpetual basis using the

lastminus

in,

firstminus

out

method. Calculate the amount of ending Merchandise Inventory at December 31, 2014 using the

lowerminus

ofminuscostminusorminus

market

rule.

A.

$1,020

B.

$1,200

C.

$1,360

D.

$2,040