Smart Phones Company Had the Following Balances and Transactions During

Multiple Choice

Smart Phones Company had the following balances and transactions during 2019. $$\begin{array} { | l | l | } \hline \text { Beginning Inventory } & \text { 20 units at \$73 } \\\hline \text { Tune } 10 & \text { Purchased } 40 \text { units at \$76 } \\\hline \text { December 30 } & \text { Sold 33 units } \\\hline \text { December 31 } & \text { Replacement cost \$78 } \\\hline\end{array}$$ 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.(Round any intermediate calculations two decimal places,and your final answer to the nearest dollar.)

A) $1,460
B) $1,992
C) $2,106
D) $2,052