On July 1, Deuce Hardware, Inc What Is the Cost of Deuce's Inventory on July 31

Multiple Choice

On July 1, Deuce Hardware, Inc.had an inventory of 300 gas grills costing $100 each.Purchases and sales during July are as follows: $\begin{array}{lll}\text {Date}&\text {Purchases}&\text {Sales}\\\text { July 3 } & & 100 @ \$ 125 \text { each } \\\text { July } 10 & 150 @ \$ 110 \text { each } \\\text { July } 17 & &150 @ \$ 130 \text { each }\\\text { July } 17 & 50 @ \$ 120 \text { each } &\end{array}$ What is the cost of Deuce's inventory on July 31 using the FIFO method?

A) $15, 000
B) $16, 000
C) $16, 500
D) $18, 000