Question - A company had the following purchases during the current year:
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January:
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10 units at $120
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February:
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20 units at $125
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May:
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15 units at $130
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September:
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12 units at $135
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November:
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10 units at $140
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On December 31, there were 26 units remaining in ending inventory. Using the LIFO inventory valuation method, what is the cost of the ending inventory?
$3,280.
$3,200.
$3,445.
$3,540.
$3,640.