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Question - Rally Wheels, Inc. had the following balances and transactions during 2024:
Beginning Merchandise Inventory as of January 1, 2024 140 units at $74
March 10 Sold 70 units
June 10 Purchased 280 units at $79
October 30 Sold 125 units
What would the company's ending merchandise inventory cost be on December 31, 2024 if the perpetual inventory system and the last-in, first-out inventory costing method are used?
a. 32,480
b. 17,425
c. 22,120
d. 15,055
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