West Co. recorded the following inventory information during the month of February: ...
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Accounting
West Co. recorded the following inventory information during the month of February:
| Units | Unit Cost | Total Cost | Units on Hand | ||||||||||
| Balance on 2/1 | 800 | $ | 2 | $ | 1,600 | 800 | |||||||
| Purchased on 2/8 | 1,000 | $ | 3 | $ | 3,000 | 1,800 | |||||||
| Sold on 2/14 | 1,500 | 300 | |||||||||||
| Purchased on 2/17 | 2,000 | $ | 1 | $ | 2,000 | 2,300 | |||||||
| Sold on 2/23 | 1,600 | 700 | |||||||||||
| Purchased on 2/28 | 800 | $ | 4 | $ | 3,200 | 1,500 | |||||||
West uses the LIFO method to cost inventory. What amount should West report as inventory at the end of February using the periodic inventory method?
a. $4,100
b. $3,700
c. $3,800
d. $4,200
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