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Alphabet Company, which uses the periodic inventory method, buys different letters for resale. It buys...

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Accounting

Alphabet Company, which uses the periodic inventory method, buys different letters for resale. It buys A thru G in January at $10.5 per letter. In February, it buys H thru L at $12.5 per letter. It buys M thru R in March at $13.5 per letter. It sells A, D, E, H, J and N in April.

If the company uses the LIFO method, what is the cost of its ending inventory?

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