Question: The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Derzon, Inc. for an operating period. Units Unit

The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Derzon, Inc. for an operating period.

Units Unit Cost Total Cost Units Sold
Beginning Inventory 30 $28 $ 840
Sale No. 1 20
Purchase No. 1 50 40 2,000
Sale No. 2 40
Purchase No. 2 20 44 880 __
Totals 100 $3,720 60

Assuming Derzon, Inc. uses LIFO periodic inventory procedures, the ending inventory cost is:

Select one:

A. $1,760

B. $1,120

C. $1,680

D. $1,240

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