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In 2022 Knob Creek Corporation's beginning inventory consisted of 10,000 units, which were purchased in...

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Accounting

In 2022 Knob Creek Corporation's beginning inventory consisted of 10,000 units, which were purchased in 2021 as follows: September20214,000 units $200 each October 2021: 4,000 units @ $2.10 each December, 2021 2,000 units @ $each In 2022. Knob Creek purchased an additional 12,000 units as follows: June2022: 7.000 units @ $2.50 each November2022: 5,000 units @ $2.70 each Knob Creek sold 16,000 units during the year Using the FIFO method, what is Knob Creek's 2022 ending inventory balance?

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