Williams Company had the following balances and transactions during 2014: 
Williams maintains its records of inventory on a perpetual basis using the first-in, first-out method. Calculate the amount of ending Merchandise Inventory on December 31, 2014 using the lower-of-cost-or-market rule.
A) $1,800
B) $2,100
C) $2,450
D) $1,400
Correct Answer:
Verified
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