Mosher, Inc had the following balances and transactions dur

Mosher, Inc

had the following balances and transactions during 2017:

Beginning Merchandise Inventory as of January 1, 2017 100 units at $82
March 10 Sold 70 units
June 10 Purchased 200 units at $85
October 30 Sold 170 units

What would be reported for Ending Merchandise Inventory on the balance sheet at December 31, 2017 if the perpetual inventory system and the first-in, first-out inventory costing method are used?
A) $5,740
B) $17,000
C) $5,100
D) $8,200

ANSWER

C .Ending Merchandise Inventory = $25,200 – $20,100 = $5,100