The Lang Company Started the Year with 300 Units in Inventory

Multiple Choice

The Lang Company started the year with 300 units in inventory, which cost $2 each. During January, it bought 700 units, which cost $3 each. During January, it sold 800 units. The amount the Lang Company should show as the value of the 200 items left in its ending inventory, using the LIFO method, is

A) 400
B) 500
C) 540
D) 600