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 Inventory150 units @ $10.00 5Purchase220 units @ $12.00 10Sales 140 units @ $20.0015Purchase100 units @ $13.00 24Sales 90 units @ $21.00
A. $2,580
B. $3,580
C. $2,260
D. $2,100
E. $3,180
Answer: A
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