Question: Crane uses the periodic inventory system. For the current month, the beginning inventory consisted of 7000 units that cost $9 each. During the month,

Crane uses the periodic inventory system. For the current month, the beginning

Crane uses the periodic inventory system. For the current month, the beginning inventory consisted of 7000 units that cost $9 each. During the month, the company made two purchases: 2800 units at $10 each and 11800 units at $10.50 each. Crane also sold 12700 units during the month. What is the ending inventory if the LIFO method is used?

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