Fargo Engines Incorporated Sells Part Number 45G to Toy Manufacturers

Multiple Choice

Fargo Engines Incorporated sells part number 45G to toy manufacturers around the world.Information about part number 45G is contained in the table below.Fargo uses a LIFO periodic inventory system. Determine the cost of goods sold and ending inventory cost of part 45G,if 2,000 units remain unsold in inventory at the end of the accounting period.

A) Cost of goods sold is $67,600 and ending inventory is $16,000.
B) Cost of goods sold is $66,600 and ending inventory is $17,000.
C) Cost of goods sold is $66,200 and ending inventory is $17,400.
D) Cost of goods sold is $8,000 and ending inventory is $2,000.