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Venus Wholesale Company started carrying a new product in December. Purchases and sales of this product during the month were: December 20 Purchased 260 units

Venus Wholesale Company started carrying a new product in December. Purchases and sales of this product during the month were:
December 20 Purchased 260 units at $96 per unit.
December 26 Sold 250 units.
December 28 Purchased 260 units at $102 per unit.
Assuming the LIFO flow assumption is in use, the perpetual inventory records will indicate an ending inventory of this product of:
$27,280.
$27,080.
$22,560.
$24,660.

December 20	Purchased 260 units at $96 per unit.
December 26	Sold 250 units.
December 28	Purchased 260 units at $102 per unit.

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