Solve the problem. Round to the nearest dollar unless otherwise stated.A printing shop made the following paper case purchases:Beginning inventory: 20 cases at $1.60June:37 cases at $1.10August:38 cases at $1.10November:19 cases at $1.70Inventory at year end shows that 39 cases remain. Find the inventory value using the weighted average, FIFO, and LIFO methods.
A. Weighted average: $66
FIFO: $54
LIFO: $62
B. Weighted average: $50
FIFO: $66
LIFO: $62
C. Weighted average: $66
FIFO: $54
LIFO: $53
D. Weighted average: $50
FIFO: $54
LIFO: $53
Answer: D
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