copany, Inc. had the following balances and transactions during 2021: Beginning Inventory 15 units at $72 June 10 Purchased 30 units at $85 December 30 Sold 20 units December 31 Replacement cost $67 The company maintains its records of inventory on a perpetual basis using the first-in, first-out ("FIFO") inventory costing method. Calculate the amount of ending Merchandise Inventory on December 31, 2021 using the lower-of-cost-or-market rule.
A. Correct answer not shown
B. $3,630
C. $1,080
D. $2,125
E. $1,675