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AAA Co. uses a periodic inventory system and has the following information in regard to...

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Accounting

AAA Co. uses a periodic inventory system and has the following information in regard to its inventory:

Beginning inventory 200 units @ 15 $3,000
Purchase on January 25 300 units @ 16 4,800
Purchase on March 15 200 units @ 17 3,400
Purchase on October 2 400 units @ 18 7,200
Goods available for sale $18,400

There are 500 units in ending inventory. What is the amount of the ending inventory using the FIFO method?

A) $8,900

B) $3,000

C) $7,200

D) $7,800

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