Use the Following Information to Answer Questions 6-8

Multiple Choice

Use the following information to answer questions 6-8.
Barton Company uses a periodic inventory system. On January 1, 2014, Barton Company had 1,200 units of inventory on hand at a cost of $8 per unit. During 2014, Barton made the following inventory purchases. Assume Barton Company sold 2,300 units of inventory during 2014.
-If you assume that Barton follows IFRS and uses the FIFO method, what is the ending inventory and cost of goods sold, respectively?

A) Ending inventory = $11,600; Cost of Goods Sold = $31,800
B) Ending inventory = $16,520; Cost of Goods Sold = $26,880
C) Ending inventory = $16,422; Cost of Goods Sold = $26,978
D) Ending inventory = $20,600; Cost of Goods Sold = $22,800