Delaware Retail Company Had the Following Balances and Transactions During

Multiple Choice

Delaware Retail Company had the following balances and transactions during 2019. $$\begin{array} { | l | l | } \hline \text { Beginning Inventory } & \text { 20 units at } \$ 70 \\\hline \text { Tune } 10 & \text { Purchased } 40 \text { units at } \$ 83 \\\hline \text { December 30 } & \text { Sold 30 units } \\\hline \text { December 31 } & \text { Replacement cost } \$ 60 \\\hline\end{array}$$ The company maintains its records of inventory on a perpetual basis using the last-in,first-out inventory costing method.Calculate the amount of ending Merchandise Inventory at December 31,2019 using the lower-of-cost-or-market rule.

A) $2,490
B) $2,400
C) $1,800
D) $3,600