Jason Retail had the following balances and transactions during 2017.
The company maintains its records of inventory on a perpetual basis using the FIFO inventory costing method.Calculate the amount of ending Merchandise Inventory at December 31,2017 using the lower-of-cost-or-market rule.
A) $2,940
B) $3,010
C) $3,440
D) $5,160
Correct Answer:
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