Nichols Company Had the Following Balances and Transactions During 2018

Multiple Choice

Nichols Company had the following balances and transactions during 2018: $$\begin{array} { | l | l | } \hline \text { Beginning Merchandise Inventory as of } & \\\text { January } 1,2018 & 300 \text { units at } \$ 82 \\\hline \text { March } 10 & \text { Sold } 70 \text { units } \\\hline \text { June } 10 & \text { Purchased } 600 \text { units at } \$ 85 \\\hline \text { October } 30 & \text { Sold } 370 \text { units } \\\hline\end{array}$$ What would be reported for Ending Merchandise Inventory on the balance sheet at December 31,2018 if the perpetual inventory system and the first-in,first-out inventory costing method are used?

A) $5,740
B) $51,000
C) $39,100
D) $24,600