Jason Retail had the following balances and transactions during 2017
Beginning Inventory 10 units at $74
June 10 Purchased 20 units at $81
December 30 Sold 20 units
December 31 Replacement cost $83
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.
A) $810
B) $830
C) $1,660
D) $2,490
A .Ending Merchandise Inventory units =
Ending Merchandise Inventory =
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