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Sheffield Company's inventory records show the following data:
| | | Units | | Unit Cost |
| Inventory, January 1 | | 11200 | | $8.00 |
| Purchases: June 18 | | 9000 | | 8.80 |
| November 8 | | 6400 | | 7.75 |
A physical inventory on December 31 shows 6000 units on hand. Under the FIFO method, the December 31 inventory is
Under the FIFO method, the December 31 inventory is valued at
$48000.
$49600.
$52800.
$46500.
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