138 Assuming That a Perpetual Inventory System Is Used, What Is

Multiple Choice

138. Pappy's Staff has the following inventory information. $\begin{array}{rll}\text { July }1 & \text { Beginning Inventory } & 20 \text { units at } \$ 90 \\5 & \text { Purchases } & 120 \text { units at } \$ 92 \\14 & \text { Sale } & 80 \text { units } \\21 & \text { Purchases } & 60 \text { units at } \$ 95 \\30 & \text { Sale } & 56 \text { units }\end{array}$ Assuming that a perpetual inventory system is used, what is the ending inventory on a FIFO basis?

A) $5,848
B) $5,860
C) $6,068
D) $6,346