Homework answers / question archive / Jason Retail had the following balances and transactions during 2017

Jason Retail had the following balances and transactions during 2017

Accounting

Share With

Jason Retail had the following balances and transactions during 2017. Beginning Inventory 20 units at $70 June 10 Purchased 40 units at $84 December 30 Sold 25 units December 31 Replacement cost $86 The company maintains its records of inventory on a perpetual basis using the FIFO inventory costing method. Calculate the amount of ending Merchandise Inventory at December 31, 2017 using the lower-of-cost-or-market rule. O A. $2,940 O B. $3,010 OC. $3,440 OD. $5,160