Strods Company reported the following purchases and sales of its only product. Strods uses a periodic inventory system. Determine the cost assigned to ending inventory using LIFO.DateActivitiesUnits Acquired at CostUnits Sold at RetailMay 1Beginning Inventory300 units @ $15 5Purchase295 units @ $17 10Sales 215 units @ $2515Purchase175 units @ $18 24Sales 165 units @ $26
A. $6030
B. $9180
C. $4825
D. $4550
E. $7280
Answer: A
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