A Company Purchased 100 Units for $20 Each on January

Multiple Choice

A company purchased 100 units for $20 each on January 31. It purchased 100 units for $30 on February 28. It sold a total of 150 units for $45 each from March 1 through December 31. What is the amount of ending inventory on December 31, if the company uses the first-in, first-out (FIFO) inventory costing method? (Assume that the company uses a perpetual inventory system.)

A) $1,500
B) $1,250
C) $1,000
D) $2,250