Question: I need the steps to get to the answer: Rudolf Diesel Company uses a periodic inventory system. Rudolf Diesel's inventory records show the following data:

I need the steps to get to the answer:

Rudolf Diesel Company uses a periodic inventory system. Rudolf Diesel's inventory records show the following data:

Units unit cost

Inventory, January 1 10000 $9.00

Purchases: June 18 9000 8.00

November 8 6000 7.00

A physical inventory on December 31 shows 8,000 units on hand. Under the FIFO method, the December 31 inventory is:

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