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TeCo uses the perpetual method and FIFO costing. TeCo's December 31, 20X5 inventory consists of...

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Accounting

TeCo uses the perpetual method and FIFO costing. TeCo's December 31, 20X5 inventory consists of 800 units @ $7. In 20X6, TeCo's merchandise purchases and sales are as follows:

Purchases Sales

February 24 1,700 @ $9

June 11 2,000 @ $25

August 17 2,100 @ $11

September 1 1,600 @ $28

October 19 3,000 @ $14

November 29 2,700 @ $30

TeCo's December 31, 20X6 ending inventory is...

a. $18,200

b. $12,600

c. $11,700

d. $10,100

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