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What the cost of ending inventory using fifo

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Question - On January 1, 2007, Nichols Company's inventory of Item X consisted of 2,000 units that cost $8 each. During 2007 the company purchased 5,000 units of Item X at $10, each, and it sold 4,500 units. Periodic inventory procedure is used. What the Cost of ending inventory using FIFO?

a. $25,000

b. $20,500

c. $37,500

d. $53,500

e. none of these

Reference no: EM132984808

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